Fed Won't Move Inflation Target

I expect a 25 bps rate hike, says Frances Newton Stacy, because it has a lag throughout the system. She thinks the Fed will pause here but not say anything around rate cuts. She also doesn't think the Fed will move their 2% inflation target, even as the market thinks such a goal is unlikely. Frances notes the Fed has added $3B to the balance sheet in bailing out the banks, vs the $6B they had taken off previously.