TORONTO, May 4, 2017 /CNW/ -- In a recent statement published after the Fed's meeting in May, it suggested towards a more aggressive business investment model and hinted steady growth in household spending.
The U.S GDP grew in the first quarter standing at 0.7% - one of the slowest rates since Q1 of 2014.
The most notable remark made Excon Fuji Securities noted was that the US Federal Reserve had expected to see a notable slowdown within the US economy but only to be a temporary issue.
This sparked worries as the US Federal Reserve has only raised its rates three times within the past decade, since the 2007-08 housing market crisis; the most recent hike was in March 2017.
Daniel Sharp, Head of Corporate Trading at Excon Fuji Securities noted, "What we are looking for is any suggestion to a rate hike in June, they have been indicating gradual rate hikes, as it stands there is nothing to change our outlook for 2017."
Janet Yellen's term comes to an end early next year; President Trump will be pursuing to fill at least five positions on the Federal Reserve's Board of Governs.
Charles Hall, Director of Corporate Equities at Excon Fuji Securities said: "What we can expect to see is if the US Federal Reserve really is looking towards a hike in June, and market data supports that, we can only see various official roles being changed within the coming weeks to talk up the path for a rate hike."
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SOURCE Excon Fuji Securities