Rabobank analysts explain that the minutes of the FOMC meeting on March 19-20 show that muted inflationary pressures and downside risks to the economic outlook made the Committee remove all hikes for 2019 from the dot plot.
Key Quotes
“The Fed still thinks that the US economy is in a good place.”
“In contrast, we expect the US economy to slide into recession in the summer of 2020 and the Fed to cut rates in 2020, after remaining on hold in 2019.”
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