Q1 – 2019

The outlook for interest rates has steadily evolved over the first quarter. Now the Fed is unanimous in their outlook with all members voting to maintain the current level of interest rates (source: Federal Reserve board press release 3/20/19) . Furthermore, the minutes infer that the members have an aversion to increasing interest rates further, because of the increasing risks to the U.S. economy from slowing global growth and lower inflation, that surprised Fed officials.