- Taking a closer look at the economic projections, core PCE inflation is seen at just 1.5% this year, down 20 basis points from the June guess. Inflation is seen at 1.9% next year, down from 2% previously.
- The median forecast for the Fed Funds rate at year-end stays at 1.4%, suggesting one more rate hike is in the cards. The median for 2018 is still 2.1%, pointing to roughly three rate hikes next year. 2019 is lowered to 2.7% from 2.9%.
- Yields have moved a bit higher since the news hit, with the 10-year yield up 2.75 basis points to 2.276%. TLT -0.3%, TBT +0.6%. The two-year yield has risen to 1.43, its highest since July.
- Gold (NYSEARCA:GLD) has lost a few dollars per ounce, now flat on the session at $1,311.
- The dollar (UUP +0.4%) has strengthened a bit.
- Janet Yellen's press conference begins at 2:30 ET. Check for live coverage on Seeking Alpha.
- Previously: Fed leaves rates steady, dots shift lower, balance sheet trim starts in Oct. (Sept. 20)
- Now read: Fed Day Follies - Dollar Falls In Anticipation Of More Free Money
Original article