Report | On solid ground for May 31, 2018
The data last week broadly confirmed our belief that the economy remains on solid footing, good but not great. Additionally, the Fed's minutes from its May meeting reaffirmed our belief that we'll see another rate hike of 25 basis points in June. We have not yet revised our forecast and are sticking with three rate hikes of 25 basis points each for 2018…for now. If we see additional evidence we will change our stance. We will be keeping a close on the employment situation report out this Friday, expecting both job creation and wage growth to have rebounded in May versus April's readings.
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