San Francisco Federal Reserve President Mary Daly says there is a good possibility the U.S. central bank is not going to raise rates of interest at all in 2019, although many outside pundits still predict one to two increases this year.
Possibility for no 2019 rate hikes
“If the economy evolves as I just said I expect it to – 2 percent growth, 1.9 percent inflation, no sense that [price pressures are] going up, no sense that we have any acceleration – then I think the case for a rate increase isn’t there,” Daly said.
Daly isn’t quite in a position to commit to her “no interest rate hike” prediction at this time or make a formal call, however.
Fed officials will provide updated rate projections at their March 19-20 meeting, and Daly says she will use the time between now and then to make an evaluation.
Other economists still expect a potential rate increase by year’s end. Philadelphia Fed leader Patrick Harker says he predicts one hike this year and yet another in 2020.
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