Every quarter, members of the committee forecast where interest rates will go in the short, medium and long term.
Here are the Fed's latest targets, released in Wednesday's statement:Arrows pointing outwardsThe Fed also dialed down its GDP projects for this year, according to its Summary of Economic Projections released Wednesday.
The central bank now expects real gross domestic product to grow 5.5% in 2021, down from its estimate of 5.9% growth from the September meeting. The Fed raised its GDP projections to growth of 4.0% in 2022, up from 3.8%. The central bank lowered its GDP projections for 2023 to growth of 2.2%, down from September's project of 2.5% growth in 2023.
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