U.S. Outlook: Is the Yellen FOMC more hawkish?
Despite a weak start to the year and financial volatility in emerging markets, the FOMC appears to have doubled-down on its monetary exit strategy in March.
- Surge in U.S. business spending is underway.
- Industrial production and loan data point to sharp pickup in Q2 economic activity.
- FOMC could now start rate hikes in Q2 2015, earlier than markets expected.
- Yellen surprises markets with hawkish hints.
- FOMC now more committed to ending asset purchases and normalizing short-term rates.