Fed offers different inflation outlook than Bank of Canada
Guidance incorporates principles issued by the Basel Committee
Economists expect interest rates hikes later this year or early next year
Moderate economic growth will lead to only a slow decline in U.S. unemployment rate
Move will encourage U.S. banks to rely on private funding markets for short-term credit
Cautious consumers will make for modest recovery
No indication of a near-term shift in the Fed’s monetary policy stance
Chairman sworn in for second term
Fed defends decision
Firms are expected to have sound risk-management practices