Fed Projects Two Rate Hikes In 2017, Barring Any Fiscal Disruptions From The President-Elect
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Fed leaders meet this week in DC to talk interest rates, and it will be the first time they’ve done so since Donald Trump’s victory sent long-term bond yields and bank stocks soaring.
While most experts consider a quarter-point hike inevitable, investors are anxious to see if the central bank changes its forecast for 2017, Bloomberg reports. They also want to see what Janet Yellen tells journalists during her scheduled post-meeting press conference.
The current median projection, shared by nine of the 17 central bankers, is for two rate hikes over the course of 2017. But that could all change on decision day, especially once the Fed responds to Trump’s plan to pump $1 trillion into infrastructure while cutting taxes and pushing deregulation. [Bloomberg]