Growing Number of Fed Banks Lobby for Rate Hikes

posted by Michael Lewis on July 12, 2016

Found in US, categorized in Macro

Tags: michael lewis FMI FOMC Rate Hikes

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Prior to the June FOMC meeting, six of the 12 banks asked for an increase in the discount rate; that was two more than in April.


At their June meeting, FOMC members, hawks and doves alike, seemed to be in full retreat. In the “dot plot,” every member scaled back their expected future increases in the funds target in the near-, medium- and long-term. The median number of rate hikes expected in 2016, which went from four in the December 2015 dot plot to 2-3 in March 2016, crumpled to barely two +25BP moves expected in June. Many observers, not to mention the Fed futures market, scoffed at the FOMC’s resolve to do even that.

About Michael Lewis

Michael Lewis

Mike Lewis founded Free Market Inc. (FMI) in 1982 as a full-service economic consulting firm, providing insights and in-depth data analysis primarily for institutional money managers and corporate planning directors.

FMI has compiled a solid record of timely, independent and accurate economic forecasts.  FMI blends its unique analysis of indicators and experience with economic cycles into a consistent overall outlook. They offer both a comprehensive overview and in-depth detail that enable clients to integrate FMI’s insights into their decision-making process.

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