Fed Projections Imply 25 Basis Points Of Rate Hikes In 2026, Followed By 25 BPs Of Rate Cuts In 2027 And Another 25 Bps Of Cuts In 2028; PCE Inflation Not Expected To Return To 2.0% Target Until 2028, Unchanged From March Projection; See 4.3% Unemployment Rate At End Of 2026 Versus 4.4% In March Projections; See End-2026 PCE Inflation At 3.6% Versus 2.7% In March; Core Seen At 3.3% Versus 2.7%; See 2.2% GDP Growth In 2026 Versus 2.4% In March, See Longer-Run Growth At 2.0% Vs 2.0% In March

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Fed Projections Imply 25 Basis Points Of Rate Hikes In 2026, Followed By 25 BPs Of Rate Cuts In 2027 And Another 25 Bps Of Cuts In 2028; PCE Inflation Not Expected To Return To 2.0% Target Until 2028, Unchanged From March Projection; See 4.3% Unemployment Rate At End Of 2026 Versus 4.4% In March Projections; See End-2026 PCE Inflation At 3.6% Versus 2.7% In March; Core Seen At 3.3% Versus 2.7%; See 2.2% GDP Growth In 2026 Versus 2.4% In March, See Longer-Run Growth At 2.0% Vs 2.0% In March | WAPE

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