What will the Fed signal for 2019?
Wednesday’s meeting of Federal Reserve policymakers is their last of 2018 and, arguably, the most important. They are widely expected to raise rates for the fourth time this year to a range of between 2.25 and 2.50 per cent, but is what they signal for next year that should help shape asset allocation decisions for 2019.
The most recent comments from Jay Powell, the Fed chair, that the level of interest rates are “just below neutral,” was taken by some investors as a sign that the Fed was preparing to use this week’s meeting as a chance to dial back its projections for how much further it will raise rates next year. Mr Powell’s press conference will be closely watched.
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