Fed raises 2024 U.S. unemployment rate forecast to 4.4%

The Fed expects the unemployment rate to be 4.4 per cent in 2024, compared with 4.0 per cent in June; 4.4 per cent in 2025, compared with 4.2 per cent in June; 4.3 per cent in 2026, compared with 4.1 per cent in June; 4.2 per cent in 2026, compared with 4.1 per cent in June; and the long-term U.S. unemployment rate is expected to be 4.2 per cent, compared with 4.2 per cent in June.