United States

Fed forecast likely to point to sustained gains

WEEKLY MARKET COMMENTARY  | 

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Forward-looking investors and firm managers will be closely monitoring the two-day semi-annual testimony on monetary policy and the economy by Federal Reserve (Fed) Chair Janet Yellen this week. We anticipate that the Fed chair will point towards an upgrade to the Fed forecast on growth and employment in line with the recent Federal Open Market Committee statement. Sustained employment gains, an economy at full employment and rising wages are likely to have bolstered the confidence of the central bank which will hit its 2 percent inflation target sooner rather than later, creating the conditions for a modestly faster pace of policy normalization than the market has priced in. U.S. economic data that will be published this week will focus on pricing, regional manufacturing and overall industrial production as well as the January retail sales report and housing starts

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