At our most recent meeting in July, the FOMC raised the target range for the federal funds rate to 2.25 to 2.5 percent, which is in the Summary of Economic Projection's (SEP) range of estimates of where the federal funds rate is projected to settle in the longer run.
Indeed, Germany has assumed the G-20 presidency at an important juncture, a time when countries are increasingly turning inward, with anti-globalisation sentiment and populist rhetoric growing stronger. As Chancellor Angela Merkel noted a few months back, the current environment is marked by a strong emphasis on the nation state.