The Fed approved a 75 basis point increase on Wednesday, the largest rate rise since 1994. All officials projected rates rising to least 3% this year.
Officials projected 1.7% GDP growth this year and next, down from March projections of 2.8% and 2.2%, respectively. The unemployment rate is projected by all but one official to rise over the next two years.
The FOMC decision to raise rates by 75 basis points was 10-1, with Esther George dissenting in favor of a smaller half percentage point increase.
These charts show how 18 FOMC officials who participated in today's meeting expect economic growth to slow quite a bit next year, with the jobless rate rising slightly.
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