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United States

Report | Potential rate hikes rattle markets for February 28, 2018

Summary

​The Fed's Open Market Committee (FOMC) released the minutes from their January meeting and signaled that more rate hikes are coming. The growing economy is fueling not only wage increases (propelled by a still-tightening labor market), but also inflation, ahead of the fiscal stimulus measure impacting the economy. Committee members believe that stimulus will continue to push up wages, likely above 3 percent year-over-year growth, and nudge inflation closer to the Fed's 2-percent target rate. On the policy front, the Supreme Court granted the "Dreamers" a temporary reprieve although they did not fully resolve the issue which will now spend months traveling through lower courts toward a true resolution. And the administration is starting to rattle its saber on trade protection, specifically highlighting what it believes are national security risks concerning aluminum and steel. ​

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