Laserfiche WebLink
REDWOOD CITY <br />For the Quarter Ended March 31, 2018 <br />PFM Asset Management LLC <br />Source: Federal Reserve and Bloomberg. Individual dots represent each Fed members’ judgement of the midpoint of the appropria te target range for the federal funds rate at <br />each year-end. Fed funds futures as of 3/21/18. <br />FOMC “Dot Plot” –March 2018 <br />0% <br />1% <br />2% <br />3% <br />4% <br />5% <br />Fed Participants’ Assessments of “Appropriate” Monetary Policy <br />Mar-18 FOMC Projections <br />Mar-18 Median <br />Fed Funds Futures <br />Fed expects 2 more <br />rate hikes in 2018, <br />raises future <br />projections <br />History of Recent <br />Fed Rate Hikes <br />Mar ’18 1.50 -1.75% <br />Dec ’17 1.25 -1.50% <br />Jun ’17 1.00 -1.25% <br />Mar ’17 0.75 -1.00% <br />Dec ’16 0.50 -0.75% <br />Dec ’15 0.25 -0.50% <br />2018 2019 2020 Longer Term <br />Market Update <br />21 6.1.B. - Page 27