*FED Outlook:* Fed's Outlook Suggests Rate Cuts of 50 BPS in 2025, 25 BPS in 2026, and 25 BPS in 2027. FOMC median forecast shows rates at 3.6% in 2026, 3.4% in 2027. Fed Policymakers Anticipate 4.5% Unemployment Rate By End Of 2025, Up From 4.4% In March. Fed policymakers see end-2025 PCE inflation at 3.0% versus 2.7% in March, Core seen at 3.1% versus 2.8%. Fed see 1.4% GDP growth in 2025 versus 1.7% in March, see longer-run growth at 1.8% vs 1.8% in March.