Do Markets Believe the Three Fed Hike Projection?
When the Federal Reserve next raises interest rates it should be more explicit about how policy makers will respond to new information about the economy going forward, said Federal Reserve Bank of Chicago President Charles Evans. The U.S. central bank’s policy setting Federal Open Market Committee, on which Evans will hold a vote next year, is gearing up for a second interest-rate increase after a hike in December that marked the first in nearly a decade. Investors see better-than-even odds of a hike before the end of the year, according to pricing in federal funds futures contracts. Plurimi Wealth CIO Patrick Armstrong discusses with Anna Edwards and Manus Cranny on "Bloomberg Daybreak: Europe."