The Fed’s rate decision will be a key feature this week, with a rate hike all but assured. The Wall Street Journal reports “All but one of the 60 economists polled expect the Fed to raise its benchmark federal-funds rate… to a range between 2.25% and 2.5%.
But they dialed back their median forecast for 2019, calling for two rate increases next year rather than the three they expected when surveyed last month.” Other key U.S. economic releases out this week will cover building permits & housing starts, existing home sales, durable goods orders, personal income & spending, leading economic indicators, and an update to third quarter GDP. Overseas, we’ll get updates on U.K. GDP, retail sales, inflation, and the Bank of England’s latest monetary policy statement, which should be especially interesting in light of the Brexit troubles. We will not publish a Market Report next week so we’d like to take this opportunity to wish you all a joyous and safe holiday season! We’ll be back with our last report of 2018 on Monday, December 31 and we hope both of you will read that special New Year’s Eve report. Happy Holidays!!!