US Banking Group Sees 3 More Fed Rate Hikes In 2018

Faizan Hashmi Published June 23, 2017 | 01:00 PM

US banking group sees 3 more Fed rate hikes in 2018

NEW YORK, , (UrduPoint / Pakistan Point News - 23rd Jun, 2017 ) - The trend of solid US economic growth should continue into 2018, setting the stage for potentially three more Federal Reserve rate increases next year, the American Bankers Association said Thursday.

The banking group's economic forecast committee predicts a "slight acceleration" in the 2018 economy from the expected two percent growth in 2017, with a 0.3 percentage point bump expected due to fiscal stimulus.

"The extent of the improvement in 2018 will depend largely on the size and composition of fiscal stimulus," said Christopher Probyn, chairman of the ABA panel and managing director and chief economist at State Street Global Advisors.

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