"It's hard to imagine anyone would think it's acceptable to signal three rate hikes when inflation is below target," Low said, noting the Fed forecast see two hikes in 2019 and one in 2020. He also said two rate hikes by the Fed would be "two too many." "We don't understand why the Fed is acting so contractionary, at a time when there's no inflation to worry about." Other data show fourth quarter growth is shaping up to be even more sluggish. That follows a big drop in October, and will drag on GDP in the final quarter of 2018.

Source: The Nation Bangkok December 21, 2018 23:15 UTC