Analysts at NBF Economics and Strategy explained that the overall changes to the central tendency of economic projections have moved marginally stronger across the horizon.
"Given their economic outlook and confidence that the risks to this outlook appear roughly balance, now a majority of participants see the fed funds rate moving up to 2.375% (7 participants) or above (1 participant) by year-end.
We take notice but want to see how risks related to international uncertainties including from emerging market will evolve before changing our forecast of only one more rate hike this year."
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