Global Macro Service > Research Briefings > United States

FOMC poised to hike rates in December

As fully anticipated, the FOMC kept the fed funds target range at 2.0% - 2.25% at the November meeting. Since there was no updates to the economic or “dot plot” rate projections, nor a post-meeting press conference, the focal point was the policy statement. The FOMC remained very upbeat on the outlook for economic growth and the prospects for inflation to remain near the Fed’s 2% target. Notably, there was no mention of recent financial market volatility. Notwithstanding tightening financial market conditions, we look for another rate hike at the December 18-19 FOMC meeting.

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