TD Economics Key Financial Forecasts
	Current Rate	2021				2022				2023
	5/13/22	Q1	Q2	Q3	Q4	Q1	Q2F	Q3F	Q4F	Q1F	Q2F	Q3F	Q4F
Fed Funds Target Rate	1.00	0.25	0.25	0.25	0.25	0.50	1.50	2.25	2.50	2.50	2.50	2.50	2.50
2-yr Govt. Bond Yield	2.60	0.16	0.25	0.28	0.73	2.28	2.85	2.90	2.85	2.65	2.55	2.40	2.30
10-yr Govt. Bond Yield	2.92	1.74	1.45	1.52	1.52	2.32	3.00	3.10	3.05	2.85	2.75	2.65	2.55
30-yr Govt. Bond Yield	3.07	2.41	2.06	2.08	1.90	2.44	3.05	3.15	3.10	3.05	3.00	2.95	2.85
Forecast by TD Economics as of May 2022; all forecasts are end-of-period. Source: Bloomberg, Federal Reserve Board, TD Economics.