Opening Statement from the April 2017 CCPM Forecaster

Opening Statement from the April 2017 CCPM Forecaster 

Originally published on April 2, 2017 (pre-market release) 

Update on Interest Rates

Consistent with our forecast, on Wednesday, March 15 the Federal Reserve raised interest rates by 25 basis points, as we had previously forecast. This marks only the third interest rate hike by the Federal Reserve in nearly a decade.

Over the past several years we have been providing a multiyear interest rate forecast in order to aid investors with asset allocation and risk management duties. Throughout this period we continued to forecast persistently low interest rates in spite of more hawkish forecasts made by academic and Wall Street economists as well as Federal Reserve officials.

These forecasts were based on our assessment of