Federal Reserve leaving interest rates unchanged at a range of three and a half to three seventy five. It was an eleven to one vote with Fed Governor Steve Miron dissenting, preferring to cut rates by one quarter point.

The Fed saying very up high in its statement that the implications of developments in the Middle East for the U.S. economy are uncertain, but other than that, pretty robust or actually positive economic outlook.

The economy is moving at a solid pace. Job gains have been low, but the unemployment rate is little changed.

Still one cut built in this year for the median Fed official, bringing the rates down to 3.4 and one cut for next year, another additional cut for next year.

3.1% the long run.

Something that's been ticking up over time, the long-run neutral rate is now seen at 3.1, that is up a tenth.

On inflation, the median Fed official now looking for 2.7 on headline inflation. That's from 2.4 in the December forecast, going back down to 2.2% in 2027.

On core, looking for 2.7 up from 2.5, so two tenths added there.

Interestingly, GDP actually taking a tick up to 2.4 from 2.3 and 2.3 from 2 percent in 2027.

Not seeing much of a GDP hit from the higher inflation forecast that is now part of the outlook.