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The widely expected increase in rates was accompanied by a reduction to two of the number of rate hikes deemed appropriate for 2019. A final increase should follow in 2020. The expected terminal rate decreased to 3.1%.
The Fed hikes rates, but signals slower pace in monetary normalization
The widely expected increase in rates was accompanied by a reduction to two of the number of rate hikes deemed appropriate for 2019. A final increase should follow in 2020. The expected terminal rate decreased to 3.1%.
The recent weak macro data flows, the softening in global growth and the tightening in financial conditions led to a mild downward revision of the growth forecast for 2019. Inflation is no longer expected to overshoot the target.
In the press conference Powell continued to push its view that the Fed is now even more data dependent and the importance of projections and the dots must not be exaggerated.
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THE FED HIKES RATES, BUT SIGNALS SLOWER PACE IN MONETARY NORMALIZATION
The Fed hikes rates, but signals slower pace in monetary normalization
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