Fed votes to continue taper, lowers growth expectations
We saw a couple of commercial accounts continue to draw down the temporary. within our expected 2% to 3% full-year growth.
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Fed Funds Rate Unchanged – Taper To Continue The Federal Reserve will continue tapering purchases of government and mortgage bonds. They intend to purchase $25 billion in government bonds per month (down from $45 billion before tapering began) and $20 billion per month in mortgage bonds (down from $40 billion before tapering began.)
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The lack of enthusiasm for a half-point rate cut from one of the Fed’s biggest doves – and the only one to vote for lower rates at last week’s meeting – led traders to ratchet back bets on.
Slower jobs growth and overseas hazards such as a possible UK exit from the European Union prompted the Federal Reserve in its June statement to keep rates unchanged and trim back its longer-term interest rate forecasts, in a sign of greater caution.. The US central bank held the target range for the federal funds rate at 0.25 per cent to 0.5 per cent, where it has been since the Fed lifted.
· This is lower than, the Fed policy maker’s expectations of between two and five hikes in 2019, but the most recent projections we have from the Fed were in.
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"Describing the slowing as "sharp" was likely a nod to the Q1 GDP report that came in below expectations," said Barclays’ Michael Gapen. Earlier today, we learned that gdp growth decelerated to just 0.1% in Q1 from 2.6% in Q4. The FOMC also reiterated that the taper will continue as long as the economy keeps humming.
· The Fed could also cut rates in 2020 if an expected economic slowdown threatens to snowball. GDP growth should slow from 2.5% this year to about 1.8% next year, but could drop more if a.
Even with taper, Fed’s balance sheet continues to rise 10:10;. A focus on job growth and its effect on taper talk. Even as healthy numbers have raised taper talk, markets are getting used to the idea of tapering.. “The core portion of the report will allow the Fed to continue quantitative easing” 6.30; Unit auto sales expectations.