Via the excellent Damien Boey at Credit Suisse:
Fed hikes again, with confusing guidance
As widely anticipated, the Fed raised rates to 1.5-1.75% from 1.25-1.5%. That said, the tone of the accompanying meeting statement, and the Fed’s forecasts (dot plots) were a little confusing, but on balance appeared slightly dovish. On a median basis, officials:
1. Signalled only 2 more rate hikes for 2018, but raised their trajectory for rates in 2019. Some market commentators were looking for signs that the Fed might raise rates more than 3 times this year.
