Relevant:
- "Low Credibility" Federal Reserve gets ready to talk policy
- U.S. GDP Grows Below-Forecast 2.6% on Trade, Inventory Drags
- U.S. GDP Grew a Disappointing 1.2% in Second Quarter
- The Implied Probability Of A March Rate Hike Just Hit 100%: Winners & Losers
- U.S. economic growth slowed in 4th quarter but GDP grew more than anticipated
2016-07-31 — cnbc.com
...
"We're tired of talking about rate hikes when it's not going to happen for a while," Diane Swonk of DS Economics told CNBC. "I really think the Fed is sidelined until the end of the year.
Or, perhaps, longer.
Market expectations for the next Fed hike had been sliding as the release of the GDP report got closer, and they plunged afterward. The fed funds futures market Friday morning was indicating just a 34.4 percent chance of a rate rise this year, with the next move pushed out until well into 2017.
See also ZeroHedge's take, with the additional point that the consumer spending leg may be about to be kicked out...
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