JPMorgan says the firm and consensus look for no change in the Fed funds rate target of 4.25%-4.5% at the conclusion of next week’s FOMC meeting and expects that the post-meeting statement will note moderating growth, but stay away from discussing trade-related risks to the outlook. In the Summary of Economic Projections, or “dot plot,” the firm expects that median GDP growth expectations for this year will be revised down and for core PCE inflation will be revised up, JPMorgan’s Chief U.S. Economist tells investors.
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