Tracking Liftoff
When will the FOMC raise the federal funds rate target?
Voting Member
Non-Voting Member
FOMC Meetings
First Half 2015
Second Half 2015
2016

Don't Know​

No Quote
Monthly Employment

+201,000​

YOY Hourly
Earnings Growth
2.2%
Core PCE YoY
1.4%
Unemployment Rate
5.6%
Capacity Utilization
1.4%
Monthly Employment

+266,000​

YOY Hourly
Earnings Growth
2.0%
Core PCE YoY
1.3%
Unemployment Rate
5.5%
Capacity Utilization
79.4%
Monthly Employment

+119,000​

YOY Hourly
Earnings Growth
2.2%
Core PCE YoY
1.4%
Unemployment Rate
5.5%
Capacity Utilization
78.4%
Monthly Employment

+254,000​

YOY Hourly
Earnings Growth
2.3%
Core PCE YoY
1.2%
Unemployment Rate
5.5%
Capacity Utilization
78.2%
Monthly Employment

+223,000​

YOY Hourly
Earnings Growth

2.0%​

Core PCE YoY

1.3%​

Unemployment Rate

5.3%​

Capacity Utilization​

78.4%​

Monthly Employment

+173,000​

YOY Hourly
Earnings Growth

2.2%​

Core PCE YoY

1.2%​

Unemployment Rate

5.1%​

Capacity Utilization​

78.0%​

Monthly Employment

+142,000​

YOY Hourly
Earnings Growth

2.2%​

Core PCE YoY

1.3%​

Unemployment Rate

5.1%​

Capacity Utilization​

77.54%​

Monthly Employment

+271,000​

YOY Hourly
Earnings Growth

2.5%​

Core PCE YoY

1.3%​

Unemployment Rate

5.0%​

Capacity Utilization​

77.53%​

Data
January FOMC Meeting
March FOMC Meeting
April FOMC Meeting
June FOMC Meeting

July FOMC Meeting​

September FOMC Meeting​

October FOMC Meeting​

December FOMC Meeting​

Charles Plosser
“The economy has returned to a more normal footing, and as such, I believe that monetary policy should follow suit.”
1/14/15
William Dudley
“I believe that the risks of lifting the federal funds rate off of the zero lower bound a bit early are higher than the risks of lifting off a bit late.” 2/27/15