The Week Ahead: March 13-17, 2017

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The Week Ahead: March 13-17, 2017
Two days later, Fed Chair Janet Yellen all but confirmed the move in a speech in Chicago, saying “in short, we currently judge
that it will be appropriate to gradually increase the federal funds rate if the economic data continue to come in about as we expect.”
In December, the Fed had projected three hikes in 2017,
but the continued strength of the U. S. economy and the uptick in inflation mean many expect the forecast to increase to four or possibly five hikes to ensure the Fed does not fall further behind the curve.
On March 1, the PCE inflation data — the Fed’s preferred measure of inflation — beat
expectations, greatly increasing market measures of the probability of a Fed hike.
Another buoyant nonfarm payrolls report on Friday confirmed the job market in the U. S. is showing no signs of slowing down.
On Wednesday, the Federal Open Market Committee (FOMC) is set to raise interest rates by 25 basis points, a move that has crept up on markets.
Year-on-year PPI is forecast to hit 2 percent while year-on-year CPI is expecting to hit 2.7 percent.

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