Central Bank Watch
FOMC Statement and Press Conference
June 17, 2015
Today’s statement and press conference identifies progress toward each of its mandates of full employment and 2.0% inflation in the PCE deflator occurred since its late April meeting but not enough to warrant an initial federal funds rate hike. The funds target range remains at 0.0-0.25%. A map was not supplied to know exactly when […] More
Deeper Analysis
New FOMC Projections
June 17, 2015
The Fed’s new forecasts cut projected growth ranges in 2015 but bump the ranges marginally higher for 2016 and 2017. The forecast for unemployment in 2015 is now higher; that for 2016 was left the same, and that for 2017 has edged up marginally. PCE inflation in 2015 and 2017 have the same predicted range […] More
Central Bank Watch
FOMC Preview
June 17, 2015
Federal Reserve officials have gradually modified their forward policy guidance, with three messages in mind: Policy will be data driven and not constrained to any pre-conceived timetable. The first rate hike would not occur before this June meeting but could happen anytime from that meeting onward. Once the first rate increase is done, subsequent changes […] More
New Overnight Developments Abroad - Daily Update
The June FOMC Meeting Has Arrived
June 17, 2015
This week’s FOMC decision (due today at 18:00 GMT) and Yellen press conference (starting 30 minutes later) have been eagerly awaited ever since monetary officials signaled that their data-driven policy could begin to raise the federal funds rate as early, but not before, the June meeting. Analysts are not expecting that to happen but are […] More
