The St. Louis Fed’s Financial Stress Index eased further in the week ended March 15, down to -1.256, the lowest since -1.281 in the September 28, 2018 week. Market expectations were that the FOMC would not only not increase rates any time soon, they might not do so again for the rest of 2019. The results of the March 19-20 FOMC meeting and publication of the Committee forecasts seem to confirm that expectation.
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