03:32 PM EDT, 03/20/2024 (MT Newswires) -- The median dot in the Federal Open Market Committee's Summary of Economic Projections, or SEP, for 2024 remained unchanged from December, again showing 75 basis points of cuts, in-line with the expectations of Goldman Sachs ( GS ) analysts.

Meanwhile, the median dot for 2025 called for 75 basis points of cuts, a 25 basis points downward revision from December. The 2026 median dot was unchanged at 75 basis points. At 3.125%, the median dot for 2026 sits slightly above the median longer-run dot, which edged up 0.1 percentage points to 2.6%, the analysts said.

For 2024, the SEP showed significantly higher GDP growth, up 0.7 percentage points to 2.1%; slightly higher core inflation, up 0.2 percentage points to 2.6%; and a slightly lower unemployment rate, down 0.1 percentage points to 4.0%.

Price: 395.69, Change: +7.03, Percent Change: +1.81