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FTN Economic Weekly June 19, 2015: Fed Signals Not Much New, Market Moves Anyway by Chief Economist Chris Low and Economic Analyst Sophia Kearney-Lederman
Fed Signals Not Much New, Market Moves Anyway
Wednesday’s Fed statement, summary of economic projections and Yellen press conference were almost, but not quite as expected. The statement was unrevised. Yellen’s 2015 rate outlook was unchanged. The inflation, GDP and unemployment forecasts were little changed, with the exception of an adjustment to 2015 growth to take the first quarter miss into account – a miss the Fed says should not count. But the Fed is clearly getting cold feet. The 2016 and 2017 dots were revised lower, and while...click here to read more.
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