Tagged: Fed

Who are you going to believe?

Compare and contrast –

Last night’s Fed Minutes from the Jan 27-28 meeting:

‘Many participants indicated that their assessment of the balance of risks associated with the timing of the beginning of policy normalization had inclined them toward keeping the federal funds rate at its effective lower bound for a longer time.’

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Now you’re gonna believe us!

The Fed’s Williams has given a remarkably clear interview in today’s FT, which sets us up nicely for the Fed Minutes this Friday and then Yellen’s testimony on February 24th.

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And what of the Fed?

Today’s payrolls number is in some ways irrelevant to the future fortunes of the dollar. The employment picture has been improving, and yet market expectations have pushed back the first Fed hike,

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