Lower For Longer: If it wasn’t already clear, the Federal Reserve has no plans to raise interest rates any time soon. Noting that inflation continues to run “persistently below” its 2% target and the labor market remains well below its “maximum” mandate for full employment, the central bank announced that it “expects to maintain an accommodative stance of monetary policy until these outcomes are achieved.”

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Since the US stock market hit bottom on March 23, the subsequent rally has been swift but uneven. An elite set of sectors have outperformed the broad market, based on a set of ETFs through yesterday’s close (Sep. 15). The majority, however, are still playing catch-up.
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Hurricane Sally remains a threat to US Gulf Coast states: CNN
Israel signs pact with two Gulf Arab states at White House: AP
US retail sales growth expected to slow in today’s August report: WSJ
Fed economic forecasts expected to edge up in today’s policy meeting: Reuters
OECD projects global GDP on track for “unprecedented” decline in 2020: CNBC
UK inflation falls to a five-year low: CNN
US import-price inflation increased more than expected in August: CNBC
NY Fed Mfg Index: growth picks up in September in bank’s region: MW
US industrial output growth continued to slow in August: Reuters