Fed Chair Jerome Powell reiterated the FOMC’s “patient” mantra in his testimony to Congress today, but we think the Fed is already done hiking interest rates. With GDP growth slowing below potential, we expect the Fed to end its balance sheet run-down later this year and to begin cutting rates by 2020.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services