STORY: “So, in a sense, the Fed will have our back,” Stovall said.
The central bank’s new economic projections will provide the most tangible evidence yet of how Fed policymakers view the likely impact of President Trump’s policies that have clouded a previously solid economic outlook.
“I think Chair Powell is going to answer questions in as factual a way as possible,” Stovall said. “I don’t think he’s going to get involved or even imply any kind of disagreement with the president.”
“But I think [he’s] going to take a more of a dovish tone during the press conference,” Stovall added, “because the Fed Chair, Powell, will be acknowledging the fact that the retail sales has been weaker, with that consumer confidence has come down, and letting people know that the Fed will do what it needs to do when it has to do it.”