The Federal Reserve expects the federal funds rate to be 4.4% at the end of 2024 and 5.1% in June; the federal funds rate is expected to be 3.4% at the end of 2025 and 4.1% in June; the federal funds rate is expected to be 2.9% at the end of 2026 and 3.1% in June; the federal funds rate is expected to be 2.9% at the end of 2027; and the long-term federal funds rate is expected to be 2.9%, in June.