The Fed held rates steady and issued this FOMC Statement.

The Committee decided to maintain the target range for the federal funds rate at 1-1/2 to 1-3/4 percent. The Committee judges that the current stance of monetary policy is appropriate to support sustained expansion of economic activity, strong labor market conditions, and inflation near the Committee’s symmetric 2 percent objective.

Dot Plot Synopsis

The DOT Plot is from Economic Projections.

  • Thirteen participants expect no hikes in 2020.
  • Four foresee a single hike.

Statement Little Changed

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The above from the Wall Street Journal Statement Tracker.


Dot Plot Amusement

Two years ago, I posted this dot plot, with these comments.

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Today's dot plot is not as silly.

However, I strongly suggest the next move is another set of cuts, not hikes.

Note that not a single participant expects a cut.

Once again, fade that consensus.

Mike "Mish" Shedlock

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The FOMC committee decided to lower the target range for the federal funds rate to 1-1/2 to 1-3/4 percent.

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As expected, the Fed signaled gradual rate hikes are coming.

Fed Hikes Again, Modifies Accommodation Language, Plans on 2 More Hikes in 2018

The Fed hiked rates to a range of 1.75% to 2.00% as unanimously expected.

Fed Pledges "Patience", Dot Plot Suggests No Hikes in 2019

Today the Fed pledged patience and a majority of officials signaled they might not raise the rate at all this year.

Wait-and-See Fed Cites Leaves Rates Unchanged, Notes Lower Inflation

Bond yields are lower across the board with inversions widening following the Fed's decision to hold rates steady.

Fed Cuts Rates 1/4 Percent, Three Dissents: Dot Plot Suggests No More 2019 Cuts

The Fed cut interest rates 25 basis point to a target of 1.75% to 2.00%. There were three dissents.

Fed Hikes 1/4 Point as Expected: Dot Plot Indicates One More 2018 Hike Coming

In its FOMC statement, the Fed says the economy continues to strengthen, unemployment is low, and spending is strong.