The Past mistakes are your guides to provide you directions of the present.
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What to expect from the new Fed dot plot on interest rates
The Federal Reserve is expected to get more hawkish next week, but only around the edges. “It is not a bold forecast to argue that there will be a hawkish undertone from the meeting...[but] they will be baby steps rather than moving in leaps and bounds,” said Michelle Meyer, senior U.S. economist at Bank of America Merrill Lynch, in a note to clients. Meyers said the Fed is likely to stick to its December forecast of three rate hikes. Fed Chairman Jerome Powell sounded upbeat in his testimony about the outlook to Congress last month, saying some of the headwinds holding back the economy were now tailwinds. The ... (full story)