If you take the Fed’s “dot plots” at their word, three or four more hikes in 2019, after raising rates in December would seem to be the order of the day, says Steven Blitz, Chief US Economist. There is, of course, an inherent disconnect between the Fed continuing to put out these forecasts and the evolving economic outlook.
My colleague Steve Blitz sets out why the market is still too complacent with respect to the path of further Fed rate hikes even if our more optimistic view of accelerating capex leading to an extended cycle eventuates.
The attempt to charac...
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