The final Federal Reserve meeting of 2019 confirmed what many officials have already pledged publicly in recent weeks: the Fed is well and truly on hold having delivered three “insurance” rate cuts in recent months. Additionally, there is no longer a rift at the Fed between those who wish to ease policy, and those who did not, as a clear majority—13 of 17 officials— now see policy rates unchanged through 2020—a consensus that markets viewed favorably.
Market pulse
- It’s still a strong U.S. labor market
- Canadian economy not quite firing on all cylinders
- Election day in the UK
- Japan’s economy grows much more than first thought
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