Market Alert - FOMC Statement

FOMC left rates unchanged.

Did not include a balance of risks comparison as it would normally when hiking rates.

Lowered FFRate outlook for 2017 and 2018.

6 officials see just one hike until 2017.

Mixed picture of economy: Slow labor market, but economic activity up.
Consumer spending stronger, housing improving.
Import drag has lessened but business investment is still soft.

Inflation low but rising toward target.

No dissents.

Sees rate hikes over time with lower than normal rates as it hikes over time.

GDP: Lowered its outlook modestly.

No mention of Brexit that we can seel.

Stocks jumped initially, but then immediately faded back to pre-FOMC levels on the day.


Jon Johnson, Chief Market Strategist
InvestmentHouse.com
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