Take-Aways from the Fed's December Minutes: Rate Hikes, Inflation and CRE/Financing Conditions

Recall that in December, the Fed released its latest set of quarterly projections. The Board and Federal Reserve bank presidents continue to see three rate hikes in 2018; the average forecast calls for an additional three hikes in 2019 as well.  shortfall in inflation is really traEven so, today’s minutes suggest greater ambiguity on the part of the Committee as to whether the persistent nsitory, suggesting that the risks are tilted toward a Fed that moves more slowly in 2018 and 2019 than would otherwise be expected.