Easy financial conditions have been supporting the pickup of global growth since mid-2016. Financial conditions in US have loosed to the easiest levels in mid-2017 since 2014, largely due to tighter credit spreads. The situation won’t be changed in short-term according to National Financial Conditions Index (NFCI), the positive values of which have been historically associated with tighter-than-average financial conditions. NFCI has remained negative since 2012. Fed will avoid a sharp change to prevent any artificial market turmoil.