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“Patience” To Make Its Way Into the SEP
Fed policymakers from around the nation once again descend upon Washington D.C. to ponder the path of monetary policy as the economy eases down from the fiscal-stimulus boosted pace of 2018 to something more consistent with what the Fed believes to be sustainable growth. The expectation is that the Fed will leave policy rates unchanged and will reiterate their intention to remain “patient” while awaiting the data that will guide their next move. Still, there will be plenty of excitement even if rates hold steady. More important will be the new set of forecasts, which will likely shift to reflect the “patient” ... (full story)