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It wouldn't matter at all if the fed didn't put in a prediction. You can calculate what inflation level the market is predicting by looking at inflation swaps. When the official rates come out the market reacts to divergence from that prediction.

Is the pricing data for inflation swaps publicly available?

I'm always reminded of economists wonderful sense of humor whenever I start seeing decimal points on some of these forecasts!

My guess is that many of the actors in the market have their own error bounds.