Fitch Rating's chief economist Brian Coulton....>

FED: Fitch Rating's chief economist Brian Coulton said Fed "maintained its 'will

act as appropriate' language which we still see as an insurance policy and don't

expect a series of further rate cuts." Today's move more about exogenous global

factors and less about incoming domestic data, Coulton said. "What is striking

is that the Fed's central case projections for the economy have not budged since

June - in fact they've revised up 2019 growth.  But the sharp escalation in the

US-China trade war in August has increased the downside risks to the US economy 

from slowing external demand and increased caution on capex on the part of US

firms. While the Fed has maintained its 'will act as appropriate' language, we

still see this as an insurance policy move and don't expect a series of further

rate cuts."