Keeping its forecast 1. 9 in 2018, not hitting desired 2 threshold until 2019. Quotes from the statement. 12 month basis overall inflation and inflation for items other than food and energy have declined this year and are running below two . Hurricanerelated disruptions and rebuilding affected economic, employment and inflation but have not materially altered the outlook for the national quon my. The committee continues to expect with gradual adjustments in the stance of Monetary Policy Economic Activity will expand at a moderate pace. To recap this, trish, the fed is raising Interest Rates from 1. 25 to 1 1 2 . It expects gdp to rise originally 2. 1 next year, to 2. 5 . Then a slowdown in 2019, falling back to 2. 1 and 2 in 2020. Back to you. Trish thank you so much, adam. Joining me right now with some analysis, bullseye brief founder adam johnson, digital risk managing partner, cofounder, jeff taylor. Sure vest Wealth Management ceo robert luna, American Action forum, douglas holtze
Not seem to be having an influence on the major averages come even though its well above the survey. The dow,l moves for s p 500, and nasdaq. Mixed rating with the nasdaq down slight the. No longer on pace for a record close. On the week, big gains. S p 500 and nasdaq on pace for their best week since middle july. Despite the uncertainty in the real world about geopolitical tensions, debt ceiling, potential government shutdown, we are mainly looking at stocks trading higher in a bullish manner. The dow right now for and s p 500, trading higher. Lets see if the nasdaq can turn higher, in the way it opened. ,ets take a look at carmakers ford, gm, Fiat Chrysler, all gaining. Ford and Fiat Chrysler posted declines in sales for the month of august. Ford came in down 2. 1 , but beating the estimate of down 3. 5 . Fiat chrysler sales fell 11 . Gm sales grew by 7. 5 , beating estimates. Investors seem to be pretty pleased. It will be interesting to see in the month of september a toll of harve
Revised down its 2017 core inflation projections from 1. 7 in june to 1. 5 . Unemployment will hold steady they expect by the end of the year, 4. 3 but gdp has been revised up from 2. 2 in june to 2. 4 what they expect by the end of the year. The fed is going to maintain its projections for a thirdrate hike in 2017 according to the fed dot plot and it is also projecting three potential rate hikes in 2018 but again members of the fomc are bit more dovish on the rate hike projections. Thee members dropped projections this year. From Federal Reserve statement, storm related reductions will affect Economic Activity in the near term but past experience that the storms are unlikely materially to alter the course of the National Economy over the medium term. The inflation problem the fed is facing, inflation on a 12 month basis expected to remain somewhat below 2 . This was unanimous decision to hold Interest Rates where they are in december and initiate beginning of unwinding in october. Tri
The statement the following. I quote. The committee currently expects to implementing Balance Sheet Normalization Program earlier this year, provided that the economy evolves broadly than anticipated. In a separate press release, trish, they outline how all of this will work. Fed will begin to unwind the Balance Sheet by allowing 6 billion to roll off monthly initially, 6 billion at threemonth intervals over 12 months until it reaches 30 billion per month. Separately as relates to mortgagebacked securities, 4 billion a month initially. Will increase to 4 billion over threemonth intervals to 12 months until it reaches 20 billion per month. As far as relates to long term projackses here, the fc projects here, three rate hikes this year. They dropped their projection from march earlier this year, from 1. 9 to 1. 6 . They raised gdp slightly. Longer term relates to unemployment 2018 and 2019 they dropped it down to 4. 2 from 4. 5 . Rate hike of a quarter of a point. Neel kashkari the lone
Inside and outside tomorrows meeting . Oil rebounds. Crude came back from the date biggest daily loss in four weeks area your stockpiles declined. Is the glut cyclical or structural . We will talk about what that means for the global economy. Were less than half an hour away from the start of trade. Lets look at where the bloomberg is telling us trade will take us. It looks like anybody is going to be sleeping peacefully through the market open. The moves are even more subdued than we saw at this time yesterday. European markets are going to be going sideways. Lets take a look at what the jim m us about the picture around the world. Ats focus in on the number of areas. The peso has been a number an interest. African market bouncing back. We see the indian market is a focus of attention up by. 4 of 1 as we continue to digest the impact of the new sales tax. That is what the market is doing. Here is the number first word news update with juliette saly. Juliette thank you. The u. S. Has t