A preview of the Federal Reserve's FOMC announcement due today in the US, via the Wall Street Journal's popular '5 things to watch' format
Well, its popular with me anyway ...
1. Several months of mixed economic data have made a rate hike move at this meeting unlikely ... but "Ms. Yellen may offer more hints about what to expect in coming months"
2. Once rate increases begin following hikes will be gradual .... but how gradual?
- "Clues will come in the new "dot plot" of policy makers' predictions for the level of the benchmark federal funds rate over the next few years"
3. Fed officials "could tweak their description of the economy to acknowledge the growth pickup and sturdier hiring"
4. The Fed will "release updated projections for GDP growth, inflation and the U.S. unemployment rate through 2017 and in the long run"
5. January, March and April policy decisions all were unanimous ... But Richmond Fed President Jeffrey Lacker might dissent on Wednesday if the Fed doesn't raise rates and Chicago Fed President Charles Evans might dissent if it does
Thanks to the journal - more at the (ungated) article
