A 25bps Rate Hike And A More Data-Dependent FOMC
As was widely expected, the FOMC raised the fed funds rate target range by 25 basis points today to 1½%–1¾%. The vote to raise rates today was unanimous. The Fed also published an updated Summary of Economic Projections today. The median projection for the year-end 2018, 2019 and 2020 fed funds rate was 2.1%, 2.9%, and 3.4%, respectively. This compares to December’s median projections for 2018, 2019 and 2020 of 2.1%, 2.7%, and 3.1%, respectively.
RDQ Economics provides global macroeconomic consulting services with an emphasis on U.S. economic fundamentals and monetary policy.
Our views are driven by consistent application of classical economic and monetary principles and has generated superior anticipation of changes in the stance of monetary policy and of movements in economic growth and inflation.
The founders of RDQ Economics, John Ryding and Conrad DeQuadros, have a combined experience of 26 years on Wall Street, 12 years of experience in central banking at the Federal Reserve and the Bank of England and nine years in the independent research space. John and Conrad have worked closely with fixed income, foreign exchange, and equity traders and portfolio managers, which has enabled their analysis and advice to be tailored to a clientele that is focused on trading and investment decisions.
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