The U.S. Federal Reserve will remain patient for a little longer than thought ju...
BENGALURU - The U.S. Federal Reserve will remain patient for a little longer than thought just last month, waiting until the third quarter before raising rates once more, and then stay on the sidelines, a Reuters poll of economists showed.
The latest poll of over 100 economists taken March 11-14 also lines up with recent remarks from Fed Chair Jerome Powell, who said the central bank does “not feel any hurry” to change rates again. While economists polled unanimously expect the Fed to keep rates unchanged at its March 19-20 meeting, 55 percent of them said it will have hiked at least once by end-September, when the median suggests it will be 25 basis points higher at 2.50-2.75 percent.The latest poll also showed an increasing number of economists predicting no further rate hikes. Financial markets have also priced out further rate rises.
U.S. gross domestic product is forecast to expand at an annualized rate of 1.6 percent this quarter, down from the 2.6 percent in the previous quarter and a cut from 1.9 percent predicted last month.
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