Economic Month in Review

Chris Low, and Rebecca Kooshak

September 2017: Fed Balance Sheet Unwind Announced

The September 20 FOMC statement announced the Fed’s balance sheet reduction starts in October. The committee made clear it is leaning toward another rate hike inDecember. Five FOMC members cut their long-run fed funds forecasts, signaling the fed no longer expects to hike rates to 3%. The new long-run target is 2.75%, and San Francisco’s John Williams predicts it will soon be 2.5%.

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