Simon French: I See Only One Fed Hike in 2017

The transcript discusses the Fed meeting's focus on the labor market, structural unemployment, and economic conditions. It highlights the challenges faced by the US Federal Reserve in tightening monetary policies and the impact of global factors, such as China's currency policies, on US inflation. The discussion also covers the Bank of Japan's bond purchasing program and the inflation dynamics in Japan, considering structural and demographic factors.

Discuss the expected inflation dynamics in the US over the next few years according to the text.

What are the anticipated actions of the Bank of Japan regarding its bond purchasing program?