Market declines following the Federal Reserve’s actions Wednesday show how investors and central bank officials are out of sync on the economic outlook and the impact of recent policy moves. Several former Fed economists saw the central bank’s messages Wednesday as a major concession in the direction of less aggressive policy. While officials raised their benchmark rate to a range between 2.25% and 2.5%, several of them lowered the number of rate increases they expect next year, reducing the median to two from three.

Source: Wall Street Journal December 20, 2018 22:07 UTC