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Fed's updated projections: Seven policymakers see two rate cuts in 2019

2019-06-20 02:10

In its updated economic projections, the Federal Reserve showed that the median view of the appropriate fed funds rate is seen at 2.4% at the end of 2019, unchanged when compared to the previous release. The greenback, which came under a renewed selling pressure amid the dovish tone in the policy statement, continues to weaken ahead of Chairman Powell's press conference.

Key highlights from the updated economic projections (via Reuters)

"Median forecast of Fed policymakers is for no change in rates in 2019 but nearly half see lower rates."

"One Fed policymaker sees one rate cut in 2019 and seven see two rate cuts; eight see rates steady and one sees a rate hike."

"Fed's median view of fed funds rate at end-2020 2.1% (prev 2.6%)."

"Fed's median view of fed funds rate at end-2021 2.4% (prev 2.6%)."

"Fed's median view of fed funds rate in longer run 2.5% (prev 2.8%)."

"Fed sees economic growth slightly stronger in 2020, jobless rate and inflation seen slightly lower, compared to march projections."

"Median Fed long-run forecasts - GDP growth 1.9% (prev 1.9%); jobless rate 4.2% (prev 4.3%); PCE price index 2.0% (prev 2.0%)."

This article is published only for general use basic informatory purposes and should not be considered or depended on as a financial or investment advice. Investors should make sure that they understand the risks and seek independent financial advice at all times. CFDS ARE COMPLEX INSTRUMENTS AND COME WITH A HIGH RISK OF LOSING MONEY RAPIDLY DUE TO LEVERAGE.

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