- Fed says economic activity and job gains have been solid, says expects job growth to remain strong, hikes interest rate to 1.50%
Market news
Fed says economic activity and job gains have been solid, says expects job growth to remain strong, hikes interest rate to 1.50%
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Sees faster growth trajectory, faster decline in jobless rate than in previous projections; no change in inflation projections for 2018 and beyond
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Vote in favor of policy 7 to 2, Evans and Kashkari dissented because they preferred to keep rates unchanged
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Near-term risks to the economy appear "roughly balanced"
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Inflation has declined this year but it still expects inflation to reach 2 pct goal over medium term
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2019 - gdp growth 2.1 pct (prev 2.0 pct), unemployment rate 3.9 pct (prev 4.1 pct), core inflation 2.0 pct (prev 2.0 pct)
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2018 - gdp growth 2.5 pct (prev 2.1 pct), unemployment rate 3.9 pct (prev 4.1 pct), core inflation 1.9 pct (prev 1.9 pct)
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Median forecast of fed policymakers is for three rate hikes in 2018
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Median view of appropriate federal funds rate at end-2018 2.125 (prev 2.125 pct): end-2019 2.688 (prev 2.688 pct) end-2020 3.063 (prev 2.875) longer-run 2.750 pct (prev 2.750 pct
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Long-run forecasts - jobless rate 4.6 pct (prev 4.6 pct); gdp growth 1.8 pct (prev 1.8 pct)
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