FOMC Minutes: Many would have preferred to remove easing bias from policy statement
From the original
Many policymakers would have preferred to remove easing bias from policy statement. Majority of participants said some policy firming would likely become appropriate if inflation were to continue above 2%. Participants generally judge continued elevated inflation and uncertainty
Related speeches
4 itemsFOMC Minutes: Many participants assessed higher rates would likely be necessary if inflation did not fall
Fed minutes lean hawkish, but we don’t expect a hike
The Fed's July FOMC minutes, while appearing somewhat hawkish with three members calling for an immediate hike, ultimately support a more dovish trajectory going forward, given the prevailing weak economic indicators. Per the full note from ing-think, despite concerns over inflation and its recent upward pressures, the overall sentiment amongst committee members seems to favor a cautious approach. The broader context reflects a balancing act between inflationary risks and a softening labor market, suggesting the likelihood of further rate increases is being tempered by current economic realities. With no significant macroeconomic events on the horizon, traders should remain vigilant about upcoming labor and inflation data that could signal shifts in the Fed's policy stance.
More like this
5 itemsBoE’s Greene warns waiting for second-round inflation effects would be too late
PBOC sets USD/ CNY central rate at 6.7298 (vs. estimate at 6.6981), strongest since 2 February 2023
RBA minutes show three reasons for hike to 4.60% and leave door open to further increases
PBOC is expected to set the USD/CNY reference rate at 6.6981 – Reuters estimate