The Federal Reserve meeting minutes revealed an upward revision to GDP growth expectations and a projected decline in the unemployment rate.
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TL;DR
Fed minutes show upgraded GDP growth outlook through 2028 and a gradual decline in unemployment, with inflation forecasts steady but tariffs expected to push prices up in 2025-2026.
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Federal ReserveGDP growthunemployment rateinflationtariffs
According to ChainCatcher, citing Jinshi, the minutes of the Federal Reserve's October meeting showed that compared to the September meeting's forecast, the October forecast indicated a slight overall strengthening of real GDP growth through 2028, primarily reflecting an increase in expected potential output growth. The unemployment rate is expected to gradually decline after this year, and the inflation forecast is largely similar to the September meeting, with tariff increases projected to exert upward pressure on inflation in 2025 and 2026.