In a previous FRED blog post, we discussed the Summary of Economic Projections (SEP) released by the FOMC this past June. In this blog post, we will again use ALFRED to compare the latest projections released in September 2025 with several of the recent projections for the following variables: • the unemployment rate • core PCEPI inflation • real GDP growth • the federal funds rate. It’s important to note that these projections represent neither a committee plan nor a decision on future policy. The first ALFRED graph, above, shows the unemployment rate projections for the fourth quarters of 2025, 2026, 2027, and 2028 ... (full story)