FOMC raised the funds rate to 1.50% to 1.75% on.>

FED: FOMC raised the funds rate to 1.50% to 1.75% on 8-0 vote, while 

the dots suggest three hikes in 2018. However, 2018 dots show they were 

only one dot away from raising to four hikes.

- Despite the median expectation for rates at the end of 2018 remaining 

at 2.1%, they were raised for all other years. 2019 is now projected for 

three hikes, moving the projection to 2.9%. 2020 rose to 3.4% and longer 

run to 2.9%. 

- There were minimal changes in the statement. However, they did note 

that inflation on a 12-month basis is expected to move up "in coming 

months" rather than "this year." Additionally, household spending and 

business fixed investment is now reported to "have moderated from their 

strong fourth-quarter readings."

- The economic projections show a slightly more hawkish stance, with a 

stronger GDP growth and a lower unemployment rate at the end of 2018. 

The unemployment rate is seen at 3.8% at the end of 2018 and dropping to 

3.6% for 2019 and 2020.