“The committee views the slowing in growth during the first quarter as likely to be transitory,” the Federal Open Market Committee said. Even so, investors increased bets on a move in June after absorbing the Fed’s sanguine assessment of the outlook and its encouraging observations on inflation, following data showing first-quarter economic growth of 0.7% and monthly price declines in March. “Inflation measured on a 12-month basis recently has been running close to the committee’s 2 percent longer-run objective,” the Fed said. But she and at least five other Fed officials are scheduled to speak on Friday, giving policy makers a chance to explain their decision more fully. That decision will come alongside officials’ updated quarterly economic projections and will be followed by a press conference with Yellen.

Source: Mint May 04, 2017 03:00 UTC