While it was not a surprise that they are holding rates steady, the projections have become more pessimistic. [https://www.federalreserve.gov/monetarypolicy/fomcprojtabl2026](https://www.federalreserve.gov/monetarypolicy/fomcprojtabl2026)
Compared to December last year, more participants are leaning toward downside risks to GDP growth, upside risks to unemployment and inflation.