The Week That Will Be

1. Fed Minutes
On Wednesday we will find out just how far the Clarida hawkish shift represents the FOMC consensus. In his 4th August speech he was at great pains to point out that his forecasts were close to those of his colleagues. He noted that "my individual projections for GDP growth and the unemployment rate turned out to be quite close to the path of SEP medians". It would surely follow, then, that his colleagues would agree with . . .

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