8 Jul 2015
Barclays: FOMC minutes to provide clarity on rate hike outlook – eFXnews
FXStreet (Barcelona) - The eFXnews Team highlights Barclays’ observations on the FOMC meeting minutes to be released ahead in the day.
Key Quotes
“We look to the minutes of the June FOMC meeting to provide context about divergent views on the outlook within the committee. Chair Yellen’s lack of confidence in the outlook during the press conference stands in stark contrast to the contents of the FOMC statement and projections, the latter of which were largely in line with our expectations and support at least one rate hike this year.”
“We especially look to participants’ views on the strength of private consumption, estimates of remaining labor market slack, and what data flow would constitute “decisive” evidence of economic momentum.”
“We believe several participants shifted their dots from September to December given the bounce in labor force participation and stable unemployment rate during the intermeeting period. This allowed participants to revise higher their estimate for Q4 unemployment and, in turn, push the first rate hike out by two meetings.”
This content has been provided under specific arrangement with eFXnews.
Key Quotes
“We look to the minutes of the June FOMC meeting to provide context about divergent views on the outlook within the committee. Chair Yellen’s lack of confidence in the outlook during the press conference stands in stark contrast to the contents of the FOMC statement and projections, the latter of which were largely in line with our expectations and support at least one rate hike this year.”
“We especially look to participants’ views on the strength of private consumption, estimates of remaining labor market slack, and what data flow would constitute “decisive” evidence of economic momentum.”
“We believe several participants shifted their dots from September to December given the bounce in labor force participation and stable unemployment rate during the intermeeting period. This allowed participants to revise higher their estimate for Q4 unemployment and, in turn, push the first rate hike out by two meetings.”
This content has been provided under specific arrangement with eFXnews.