The Fed Just Predicted a Fairly Lousy Economy—and the Markets Noticed

The Fed’s prognostications on the economy predict it will be flat to moribund.Commentary
The Federal Reserve (Fed) announced on Sept. 21 that it raised interest rates by 75 basis points (bps), or three-quarters of a percentage point.
The decision came a day after the Federal Reserve Bank of Atlanta dropped its much-watched estimate of third-quarter 2022 GDP (“GDP Now“) to just 0.3 percent on Sept. 20, after residential fixed investment disappointed, printing at ‑1.28 percent, when the …