They didn't announce it.

The projected rate increase is the result of the dot plots, which is the assessment of both governors and regional members of the FOMC. It is not binding and it serves merely as a projection.

If you watch the press conference, you can tell how annoyed Powell is at constantly having to answer questions stemming from what the dots show.

Millennials were born with better timing than early genx for example. They were hardly put under the gun, and shouldn't elicit any particular amount of concern. Given their propensity for voting for the greatest threat to Middle class status (expansion of immigration both legal and illegal), I'd say they have themselves to blame for their circumstances.

There are more important factors like the unwillingness to increase the government deficit to compensate for the increased savings preference. It's ruining the Eurozone. The US is pretty much the only country that is doing something.

Unlike boomers immigrants spend money and take on new loans. Also, what are you going to do once you have hit 0 immigration? Are you going to deport people?