FOMC: preview of policy meeting
We expect the FOMC to keep the Fed funds rate unchanged at this week’s meeting. Some media reports have suggested a change to the “extended period” phrasing in the FOMC statement. We believe it is too early for such substantial changes in the wording, which would send yields significantly higher. Economic indicators have been more mixed lately and should not prompt any changes to the assessment of growth. The recent run-up in energy prices is likely to be
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FOMC: preview of policy meeting
We expect the FOMC to keep the Fed funds rate unchanged at this week’s meeting. Some media reports have suggested a change to the “extended period” phrasing in the FOMC statement. We believe it is too early for such substantial changes in the wording, which would send yields significantly higher. Economic indicators have been more mixed lately and should not prompt any changes to the assessment of growth. The recent run-up in energy prices is likely to be