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.