Highlights from Fed press conference

– US economy is doing very well
– Now sees 4th hike in 2018 as more likely
– Fed to hold press conferences after every meeting from January 2019
– The Fed Central tendencies will remain on an quarterly basis
– Recent inflation data have been encouraging but too soon to declare victory
– Recent rising oil prices will likely push inflation above 2% over next few months but should be transitory
– Fed expects to make further gradual increases in interest rates
– Over the next year or so interest rates will move close to neutral levels
– The FOMC rate forecast 2.38% at end of 2018, 3.13% in 2019 and 3.38% in 2020
– Balance sheet reduction is proceeding smoothly

 Trader Petar Milanov

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