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Jul 27 - 12:55 PM

USD: Market Participants Looking For A Dovish At Today's FOMC May Be Disappointed - Credit Suisse

By eFXdata  —  Jul 27 - 10:45 AM

Credit Suisse discusses its expectations for today's FOMC policy meeting.

"Overall, the Fed and Chair Powell will likely be walking a fine line in today’s meeting, balancing the paramount need to convey a vigilant position against a lasting rebound in inflation expectations with the risk that an overly hawkish stance might cause further inversion in the yield curve, which in turn would undermine the efforts to tighten financial conditions via higher long -term yields," CS notes. 

"At a time when labour markets still appear to be very tight and the track record of success in the fight against inflation still not validated by hard data, we think it would be reasonable for the Fed to embrace a message of continuity rather than of change, even if some promising signs of anchoring of inflation expectations appear on the horizon. For market participants looking for a dovish “pivot”, an outcome along these lines might prove disappointing," CS adds. 

Source:
Credit Suisse Research/Market Commentary

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