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Fed to lower growth and rate increases for next year – Morgan Stanley

In the view of the analysts at Morgan Stanley, the Federal Reserve (Fed) Dec meeting is only about the rate hike plans for the next year. Markets have already priced-in a 25bps rate hike at this meeting due next week on Dec 19th at 1900 GMT.

Key Quotes:

"Will be about one thing and one thing only for investors: how many hikes does the Fed think will be appropriate in 2019?"

Expects Fed to lower growth and rate increases for next year.

Distribution of the dots "will skew more dovish and the mean of the dots is likely to move lower". 

Fed to hike at this meeting.

Expects two hikes in 2019.

Statement to indicate flexibility in the path ahead, greater data-dependent language than current guidance.

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