The March FOMC meeting marks the real start of the Powell Fed, and fittingly, it will be closely watched mostly for what it suggests about the outlook. Still, this is a big step not only because it is the first hike of the Powell Fed, but also because it brings the Fed’s policy rate into the gray zone between normalization and tightening. Much was justifiably made of the Fed’s first rate hike since the financial crisis, and of the tapering of asset purchases and then reinvestments; this step is far less clear-cut, but it’s still significant.
What’s at Stake:
The FOMC Statement:
The Press Conference:
As iCIMS’ former chief economist, Josh Wright led a team of data scientists in analyzing emerging trends in the U.S. labor market. With publications ranging from academic journals to national media, Wright previously served as a U.S. economist with Bloomberg L.P., and was a staff researcher at the Federal Reserve.