The summer is just flying by, and that means another FOMC rate decision and statement next week.
For more on this, see highlights of my report below, followed by a link to the full U.S. Outlook, delivered on July 21.
- There is a small, though unlikely, chance the FOMC could announce the balance sheet reduction at next week’s meeting.
- We expect the Fed to ultimately reduce its balance sheet by around $2-2.5 trillion.
- As the Fed shrinks its balance sheet, it could be good news for savers who have been earning very little interest in their bank deposits.
- Only one more quarter-point rate hike for 2018 and another in 2019 are fully priced into the market today.
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