Central Banking
POLICY · RATES · QE · RESERVES
Fed Funds Rate
5.25–5.50%
Target Range
Next Meeting
May 7
2026 · 7 weeks away
QT Pace
$60B/mo
Rolling off balance sheet
Core PCE
3.2%
vs 2.0% target
Fed Dual Mandate
PCE Inflation
Unemployment (U3)
1.2%GDP Growth (QoQ ann.)Trend: 2.0%
Real GDPFOMC Dot Plot — Rate Projections
18 members · Mar 2026 SEP Median projection Individual member
Fed Balance Sheet 2008–2024
TreasuriesMBSOther
Quantitative Tightening Pace
Monthly Roll-Off$60B / month
$0Max $100B
Treasuries cap:$35B/mo
MBS cap:$25B/mo
Since Jun 2022