- 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.