17 Jun 2015
FOMC: Focus remains on Fed rate projections today – Wells Fargo
FXStreet (Barcelona) - With the FOMC Meeting scheduled for today, the market focus will remain on the Fed’s updated economic outlook and the rate projections, according to Economists at Wells Fargo Securities.
Key Quotes
“Being a quarter end meeting, the FOMC will provide its updated economic outlook and follow-on press briefing with Fed Chair Yellen. Prospects are high that GDP growth will be revised lower for 2015 due to the soft start to the year. That said, we look for little change to the inflation and unemployment rate projections, which continue to point to further progress being made toward longer-run targets.”
“Financial market attention will likely focus on the Fed’s rate projections, particularly what those projections imply for a rate hikes this year. Unless the conviction of the outlook deteriorates, the FOMC seems poised to raise rates at the September meeting.”
Key Quotes
“Being a quarter end meeting, the FOMC will provide its updated economic outlook and follow-on press briefing with Fed Chair Yellen. Prospects are high that GDP growth will be revised lower for 2015 due to the soft start to the year. That said, we look for little change to the inflation and unemployment rate projections, which continue to point to further progress being made toward longer-run targets.”
“Financial market attention will likely focus on the Fed’s rate projections, particularly what those projections imply for a rate hikes this year. Unless the conviction of the outlook deteriorates, the FOMC seems poised to raise rates at the September meeting.”