The Powell Pivot

Implications for Rate Hikes

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Jerome Powell Over the last four months, the Fed methodically shifted its focus to one of sustaining the economic expansion rather than inflation control, and has adjusted its outlook for interest rate hikes accordingly. We have a conservative outlook for interest rates in 2019; we expect the Fed to be sidelined for the entire year, largely due to trade tensions. We are skeptical that China will be able to stimulate its own economy and come to a lasting trade agreement with the US.

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Diane Swonk Diane Swonk
Chief economist
Twitter: @DianeSwonk

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