FOMC March 20-21st Meeting
• FOMC’s predominant concern is the “risk that inflation will fail to ease as expected” • Fed’s communication is consistent with the policy staying on hold and suggests that the Fed is a long way from easing • We expect the hawkish bias to remain unaltered The tone of Fed’s communication remains consistent with a tightening bias In the intermeeting period, economic data has come on balance on the soft side, especially data on business investment. However, concerns on downside
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