Fitch Ratings Chief Economist Brian Coulton....>

FOMC: Fitch Ratings Chief Economist Brian Coulton on FOMC rate announcement

- "While the Fed statement now flags that core inflation is running below 2 per

cent it also acknowledges that the economy has been stronger than the Fed

expected before. So it's hard to see this as a decisively more dovish

announcement."

- "The recent decline in core inflation indicators has not been across the board

and has been a lot less pronounced than the dip seen in early 2017. And to some

extent it might reflect the recent pick up in labor productivity helping to keep

down unit labor costs as wages grow - improving labor productivity is not such a

dovish scenario as it could imply a higher equilibrium interest rate."