The Federal Reserve did acknowledge the downfall in inflation by lowering the forecast: 1.7% instead of 1.9% is the forecast for Core PCE this year. However, it did not impact the decision: they raised rates.
In addition, they did change their forecast for interest rates: one more is expected for 2017 – no change in the dot plot.
The US dollar recovers. Follow the live blog and video coverage.
The Federal Reserve was widely expected to raise interest rates for the third time in the past six months. Why? It’s not the data, which doesn’t look. It’s actually what the Fed has guided us. However, the fall of inflation reported just hours before the publication, sent the dollar crashing down and cast some doubts about the move.
The big question is what’s next? Some answers are made available via the dot-plot, the statement and later with the press conference by Janet Yellen.
Follow the live video and live blog coverage below:
Fed Live Video Coverage
Follow the live coverage with Valeria Bednarik:
Fed Live Blog
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