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Post FOMC react from Fitch Ratings' chief...>

US TSYS
US TSYS: Post FOMC react from Fitch Ratings' chief economist Brian Coulton, Fed
annc "falls short of a truly dovish hike. We've still got the commitment to
"further gradual increases" ahead - albeit now prefaced by "some" - which many
thought would be dropped altogether. The median projections have the Fed hiking
three more times by the end of 2020 (compared to four in the September
projections) and rates going above the Fed's estimates of the neutral long run
rate." Coulton adds that "given the stock market declines and negative
international economic  news - recognized in the statement - this still points
to quite a bit of confidence at the Fed in  the ability of the US economy to
withstand a few more rate hikes. The downgrade to their 2019 growth forecast is
pretty modest."

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