The beginning, the end, and the dove in-between

Jonathan Boyd
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This week FOMC meeting ended up as expected, leaving the monetary policy stance unchanged. The economic diagnosis was upgraded by a notch, while forecasts were marked down for activity and prices. The focus remains on the date of the first rate hike. FOMC members do not seem to be in a hurry, but there is no way to be sure because policy is data-dependent. As Janet Yellen repeated more than once, the date at which the hiking cycle begins matters less than its pace and duration.

Jonathan Boyd
Author spotlight

Jonathan Boyd

Editorial Director of Open Door Media Publishing Ltd, and Editor of InvestmentEurope.

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