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PIMCO Asia Limited
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PIMCO Europe Ltd
(Registered in UK and Wales, Company No. 2604517)
TEL: +44 (0) 20 3640 1000
FAX: +44 (0) 20 3640 1007
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(Iscritta al Registro delle Imprese in Italia al n. 07533910969)
TEL: +39 02 9475 5400
FAX: +39 02 9475 5402
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TEL: +49 89 26209 6000
FAX: +49 89 26209 6005
TEL: +1 212-776-1500
FAX: +1 212-776-1520
TEL: +55 (21) 3956-5800
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PIMCO Asia Pte. Ltd
(Registration No. 199804652K)
TEL: 65 6491-8000
FAX: 65 6538-2700
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ABN 54 084 280 508
AFS Licence 246862
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TEL: +1 416 368 3350
FAX: +1 416 368 3576
PIMCO (Schweiz) GmbH
(Registered in Switzerland, Company No. CH-020.4.038.582-2)
TEL: +41 44 208 3867
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At its March meeting, the Fed hiked rates as expected and left the projected path for rates unchanged. Yet, as Chair Yellen likes to remind us, the Fed is not on autopilot.
Visit PIMCO’s Rise Above Rates page for our latest outlook on interest rates.
The Fed added language that its liftoff path is expected to be consistent with 2% inflation.
The Fed wants the option to hike in March but lacks the conviction to do so.
The Fed kept rates on hold despite growing confidence that inflation will hit its 2% target.
Minutes from the Federal Reserve’s 14 December meeting indicate the central bank has tilted in a hawkish direction. But that doesn’t mean the Fed is changing policy.
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Global Strategic Advisor
Dr. Clarida is a managing director in the New York office and PIMCO's global strategic advisor. In this capacity he leads PIMCO's annual Secular Forum process and works closely with the Investment Committee to assess and analyze global monetary and fiscal policy trends. Since joining the firm in 2006, he has worked extensively with and served as a trusted adviser to the firm's many central bank and sovereign wealth fund clients. Prior to joining PIMCO, he gained extensive experience in Washington as assistant Treasury secretary, in academia as chairman of the economics department at Columbia University, and in the financial markets at Credit Suisse and Grossman Asset Management. He has 19 years of investment experience and holds a Ph.D. in economics from Harvard University. He received his undergraduate degree with Bronze Tablet Honors from the University of Illinois.