Two Fed Hikes in 2017 and 2018: JPMorgan's Chang

The transcript discusses the Federal Open Market Committee (FOMC) officials' perspectives on interest rates and the potential impact of the Trump administration's policies on the economy. It highlights the importance of the dollar's strength and its effect on growth forecasts. The discussion also covers the Federal Reserve's response to economic changes, the potential for policy shifts, and the future composition of the Fed under the Trump administration.

What is the main concern regarding the economic outlook as discussed in the first section?

• The strength of the dollar affecting growth forecasts

• The rapid implementation of tax cuts

• The stability of the FOMC officials

• The immediate impact of Trump's policies

How does a 10% real appreciation of the dollar affect growth according to the second section?

• It increases growth by one percentage point

• It stabilizes growth

• It has no effect on growth

• It decreases growth by one percentage point

What is the Federal Reserve's anticipated action in response to a strong dollar?

• Increase interest rates immediately

• Wait until the dollar reaches a 10% appreciation

• Decrease interest rates

• Ignore the dollar's strength

What is the market's expectation regarding the Federal Reserve's composition in the next 18 months?

• A lot of changes are expected

• The composition will remain the same

• No changes are expected

• Only minor changes are expected

What is the anticipated impact of Trump's policies on the Federal Reserve's future actions?

• They will cause uncertainty and potential changes

• They will stabilize the Federal Reserve's actions

• They will lead to immediate changes

• They will have no impact