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00:00DOING -- TIM DIED -- DUY. IS IT HAWKISH, IS IT DOVISH. YOU GUYS HAVE OPPOSING VIEWS. STEPHEN: THE DOTS ARE LIKELY TO DRIFT UP. I DON ' T KNOW THE LEADING DOTS CHANGES. I THINK MY VIEW IS THE PHYSICAL ' S END UP MOVING FOUR TIMES NEXT YEAR BUT I ' M NOT SURE THAT IS GOING TO BE REFLECTED MEDIUM. JUST YET. > > IT MAKES SENSE FOR THE FED STANDPOINT TO HOLD THE FIRE LITTLE BIT AS A MOVE THROUGH THIS TRANSITION TO A NEW CHAIR. I CERTAINLY WOULD EXPECT TO SEE A MOVE UPWARD AND SOME OF THE INDIVIDUAL DOTS VERSUS SEPTEMBER. IF YOU LOOK AT SOME OF THE DEVELOPMENTS IN THE ECONOMY, STRONG GROWTH, THE UNEMPLOYED RATE DROPPING, TAX BILL PROBABLY PASSING AND INFLATION SEEMS TO HAVE BOTTOMED OUT STARTING TO CREEP HIGHER. YOU WITHIN THE MARGIN THE DOTS WOULD BE MOVING HIGH. ALIX: WHAT DO YOU SAY ECHO TIM: -- WHAT WOULD YOU SAY? TIM: I DON ' T EXPECT THE MEDIAN. TO MOVE HIGHER. IT IS A LITTLE EARLY AND THEY WILL LIKE A LITTLE MORE CONFIDENCE ON INFLATION. I THINK YOU HAVE A PROBLEM WITH THE ISSUE OF THE TERMINAL DOTS. IF THEY START RAISING THE NEAR-TERM DOTS FOR 2018, THEY ' RE GOING TO MOVING UP MORE QUICKLY TO NEUTRAL THAN THEY ARE COMFORTABLE WITH. ALIX: TIM, YOU WROTE A COLUMN

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Fed Expected to Raise Rates Today

Stephen Stanley, chief economist at Amherst Pierpont, and University of Oregon Professor Tim Duy examine the Federal Reserve's dot plot moving into 2018. They speak with Bloomberg's Alix Steel on "Bloomberg Daybreak: Americas." (Source: Bloomberg)

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