- Sweden: Consumer Confidence, Business Tendency Survey, Public Finance (Mar)
- Spain: Mortgage Market (Jan), Order Book Forecast (Mar)
- Italy: ISTAT Business & Consumer Survey Press Release (Mar)
- Germany: Business Registrations & Deregistrations (Dec), Import & Export Prices (Feb), IAB Labor Market Barometer (Mar)
- Vietnam: GDP (Q1), CPI, IP, International Trade, Passenger & Cargo Traffic Statistics, Manufacturing Sales and Inventories, International Visitor Arrivals (Mar); Korea: Economic Sentiment
- more updates...
Economy in Brief
U.S. Energy Product Prices Remain Under Pressure
Regular gasoline prices held steady at $2.32 per gallon last week (12.1% y/y) for the third straight week...
German Federal Debt Levels Fall
German debt level fell outright in Q4 2016 as the ratio of federal debt-to-GDP also fell...
NABE 2018 Forecast: Modest Improvement in Economic Growth & Higher Inflation
The NABE expects 2.5% real U.S. economic growth in 2018 compared to 2.3% forecast for 2017...
Texas Factory Sector Activity Remains Strong
The Dallas Fed indicated in its Texas Manufacturing Outlook Survey that the General Business Activity Index eased during March...
EMU Money and Credit Growth Are Less Than Impressive Than Euro-PMIs
EMU nominal money supply growth is slightly higher over three months, but credit growth in the EMU is slower...
Durable Goods Orders Strengthened by Another Jump in Aircraft
New orders for durable goods rose 1.7% (5.0% y/y) during February...
by Tom Moeller March 15, 2017
At today's meeting of the Federal Open Market Committee, the targeted federal-funds rate was increased to a range of 0.75% to 1.00%, from 0.50% to 0.75%. It remained the highest target range since the end of 2008, and followed two earlier increases from a 2015 low of 0.12%.
In new language, the Fed indicated that inflation was moving close to its long-term objective of 2%. As stated earlier, accommodative monetary policy was seen to have promoted a further strengthening of labor market conditions.
The Fed continued to indicate that future interest rate adjustments would reflect inflation, labor market conditions and expected inflation readings, as well as financial and international developments.
Expected growth in real GDP was unchanged by the Fed at 2.1% this year and next, then 1.9% in 2019. The expected core PCE price inflation rate was raised slightly for this year to 1.9%, followed by unchanged expectations for 2.0% price growth. Expected unemployment held steady at 4.5% through 2019. The fed funds rate was expected to be roughly 3.0% by the end of 2019.
The press release for today's FOMC meeting can be found here.
Haver's SURVEYS database contains the economic projections from the Federal Reserve Board.
|Federal Funds Rate Target||0.75%-1.00%||0.50%-0.75%||0.40%||0.13%||0.09%||0.11%|