On Thursday, June 17, Beijing time, the Federal Open Market Committee ((FOMC)) released the latest interest rate resolution, leaving the benchmark interest rate unchanged at 0%, which is in line with market expectations.

The Fed said it would continue to increase its holdings of Treasury bonds and mortgage-backed securities by at least $80 billion a month until substantial progress is made in the committee's goals of full employment and price stability.

The Fed bitmap shows that the Fed will raise interest rates twice by the end of 2023.

The Federal Reserve expects

The expected median unemployment rate in 2021, 2022 and 2023 is 4.5%, 3.8% and 3.5%, respectively, and is expected to be 4.5%, 3.8% and 3.5% in March, respectively.

The median inflation expectations for core PCE in 2021, 2022 and 2023 are 3.0%, 2.1% and 2.1%, respectively, and are expected to be 2.2%, 2.0% and 2.1% in March, respectively.

The median GDP growth forecast is 7.0% at the end of 2021 and 6.5% in March, while the median GDP growth forecast is 3.3% at the end of 2022 and 3.3% in March.