Why has the US Fed turned away from interest rate rises? | Nouriel Roubini

Stalling inflation and a need to show independence have pushed it to a dovish stanceThe US Federal Reserve surprised markets recently with a large and unexpected policy change. When the Federal Open Market Committee (FOMC) met in December 2018, it increased the Fed’s policy rate to 2.25%-2.5%, and signalled that it would raise the benchmark rate another three times, to 3%%-3.25%, before stopping. It also signalled that it would continue to unwind its balance sheet of Treasury bonds and mor