Tim Duy has 5 questions for the Fed here…
“Inflation is always just a year away in the Fed’s forecast, and this year is no exception to that rule.”
“The Fed probably remains too pessimistic on labor market improvement in the coming year.”
”When combined with the stronger-than-expected activity of the last three quarters, the Fed’s 2018 GDP forecasts rose from 2.1 percent to 2.5 percent over the past year. But here again the Fed may be too pessimistic.”
”…I expect yield-curve concerns will remain a minority position in the Fed as long as growth stays on a solid track. If so, the Fed will find a reason to disregard the yield curve and keep hiking after any inversion occurs.”
There is more here: https://www.bloomberg.com/view/articles/2017-12-28/5-questions-for-the-fed-in-2018
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