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Fed Weighs Wait-and-See Approach on Future Rate Increases
U.S. Federal Reserve officials are likely to take a wait and see approach based on incoming data following a likely rate increase in December 2018. Jerome Powell, Fed chairman and other members are likely to want to see how the economy is holding up from moves already taken. Under this evolving data dependent approach the Fed will step back from the predictable path of quarterly rate increases of the last 2 years.
Inflation has softened in the last quarter of 2018 with falling oil prices, reducing the Fed's sense of urgency. The dents in the stock market have not changed the situation of low unemployment and strong growth.
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