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Wednesday, December 14, 2016

FOMC hikes rates by 25 basis points, as expected

  • Fed hikes to range of 0.50%-0.75%
  • All 103 economists surveyed by Bloomberg forecasted a hike
Highlights of the statement: COMING IN


  • Repeats gradual policy path plan
  • Policy supporting 'some further strengthening' on goals
  • Votes were unanimous
  • Stance of monetary policy remains accommodative
  • Inflation has increased since earlier this year
  • Economy has been expanding at a moderate pace
  • Market-based measures of inflation have moved up 'considerably' but are still low
  • Expects conditions to evolve in way that warrants 'only gradual increases' in rates
  • Officials see three 2017 hikes versus two in Sept dots
  • Sees slightly higher pace of growth and lower unemployment

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