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MNI Fed Preview - Sep 2021: Consider This "Advance Notice"

The September FOMC meeting will set up a taper start in late 2021, increasingly likely in November.

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EXECUTIVE SUMMARY:

  • The September FOMC meeting will set up a taper start in late 2021, increasingly likely in November.
  • While details of the FOMC's taper plan may not emerge from this meeting, a taper is likely to include $15B/meeting pace and optionality to adjust at each meeting, opening up the possibility of an end-2022 rate hike.
  • Consensus expects the median Fed funds rate 'dot plot' path to remain fairly static at this meeting vs the June projections, setting up hawkish risks.

FOR THE FULL PUBLICATION PLEASE USE THE FOLLOWING LINK:


FedPrevFinalSept 2021.pdf


Analyst Views – Fed Outlook