This statement means nothing, they will cut rates before 2020, but by then it will be too late.
Fed indicates it will cut rates — but not until 2020
The Federal Reserve on Wednesday said it does not expect any rate cuts this year, but did forecast one for 2020. The U.S. central bank said that it continues to expect that the federal funds rate will near 2.4% by the end of 2019. The Fed, however, ticked down its expectations for future years, saying it expects the rate to approach 2.1% by the end of 2020, instead of its previous outlook for 2.6%. As expected, the central bank also announced Wednesday it is leaving the benchmark rate unchanged. Four times a year, policymakers at the Federal Open Market Committee submit their projections about where short-term ... (full story)