FOMC

Monetary policy may need to become restrictive at some point, but the Summary of Economic Projections is “not a signal” that it will, Federal Reserve Board Chair Jerome Powell said Wednesday.

The Federal Reserve raised borrowing costs for the fourth time this year, ignoring a stock-market selloff and defying pressure from President Donald Trump, while dialing back projections for interest rates and economic growth in 2019.

A lone large deal came into an even stronger municipal bond market, as all eyes are on the Federal Open Market Committee.

A few deals trickled into a stronger market, ahead of Wednesday’s interest rate announcement.

Market participants will focus on reading the tea leaves of the Fed statement Wednesday.

The municipal bond market will see a week of meager issuance, as all eyes are on the Federal Open Market Committee and its upcoming meeting.

While bond market prognosticators are confident the Federal Open Market Committee will raise the fed funds rate target by 25 basis points this week, they remain less certain on the outlook for 2019.

Arthur Bass, managing director of fixed income financing, futures and rates at Wedbush, discusses the yield curve inversion, recession chances and the Federal Reserve. Gary Siegel hosts.

Federal Reserve Governor Lael Brainard said U.S. economic momentum is strong and a gradual approach to interest-rate increases remains appropriate for now.

Federal Reserve Chairman Jerome Powell delivered a bullish assessment of the U.S. economy and the job market.