2016_09_21 — “Fed on Track to Hike Rates in December” — Perspectives, The Here and Now

Fed on Track to Hike Rates in December

  • Rates were left unchanged
  • As many as three of the current ten voting members dissented, preferring an immediate rate hike with previous hawk Esther George joined by Loretta Mester and Eric Rosengren
  • 14 of 17 Fed officials still expect at least one rate hike this year, presumably in December when the next FOMC meeting followed by a press conference is scheduled
  • — — — To eliminate ambiguity over a raise by year end, the Fed’s statement noted that the Fed “judges that the case for an increase in the federal funds rate has strengthened but decided, for the time being, to wait for further evidence of continued progress toward its objectives”
  • — — — In addition, the near-terms risks to the economic outlook were described as “roughly balanced” whereas the previous statement only acknowledged that those risks had “diminished”

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Avid traveler and art fan, also Partner & Chief Investment Officer @Running Point Capital, a multifamily office and ultra high-net-worth money-management firm

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Michael Ashley Schulman

Michael Ashley Schulman

Avid traveler and art fan, also Partner & Chief Investment Officer @Running Point Capital, a multifamily office and ultra high-net-worth money-management firm

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