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Fed Projects One More Rate Hike This Year

Randy Lagomarsino with City National Bank in San Jose breaks down the stats for growth, unemployment, interest rates and other timely takeaways in this EXCLUSIVE.

By Lisa Brown | lisabrown | Updated on September 25, 2017

JLL Real Views The Fed says the unemployment rate will stabilize for the remainder of the year (credit: JLL Real Views).

SAN JOSE—The Federal Reserve Bank maintained the federal funds rate at 1.125% and announced the beginning of balance sheet normalization, which will start next month, moves that were widely expected, according to third-party sources for City National Rochdale. The Fed stuck to its projection of one more rate hike this year, probably in December, say 11 of the 16 senior Fed officials.

In addition, it will gradually reduce the size of its $4.2 trillion balance sheet. The economic projections for the remainder of the year were slightly altered from its June projections, according to information provided by Randy Lagomarsino, vice president/senior relationship manager, commercial banking at City National Bank, including growth at 2.4% from 2.2%, unemployment remaining at 4.3% and inflation at 1.5% from 1.7%.

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