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Charlie Bilello, chief market strategist at Creative Planning, comments that the current Federal Open Market Committee (FOMC) meeting is the most straightforward in years.
He criticizes the Federal Reserve for failing to maintain price stability and being behind the curve, noting that 66 consecutive months have passed without sufficient action. Bilello expects interest rate hikes to be announced soon.
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Bilello previously discussed President Trump's view on U.S. GDP, cautioning that unprecedented stimulus could drive inflation higher in an earlier note (read more). He also reported that U.S. producer prices rose 5.4 percent over the previous year and averaged 4.1 percent annual growth over five years (details here). These data points form the backdrop to Bilello's criticism of recent Fed policy.