The Federal Reserve Bank of Cleveland has constructed the projections of federal funds rates from seven simple monetary policy rules, based on three sets of forecasts for economic conditions. The new tool even helps anyone customize their own simple policy rule.
Simple monetary policy rules typically provide a relationship between the central bank’s policy rate ... and a relatively small number of indicators on real economic activity and inflation.
Monetary policymakers often compare and contrast the federal funds rates implied by different simple monetary policy rules, use simple rules as an input in the decision-making process, and use simple rules to help communicate decisions to the public.
One can download the spreadsheet from Cleveland Fed's website to customize their own simple monetary policy rule and economic forecast.