Hawkish-Leaning Committee, Reform-Minded Chair: Warsh’s First Fed Meeting | Metals Mine

  • Hawkish-Leaning Committee, Reform-Minded Chair: Warsh’s First Fed Meeting

    From pimco.com

    The Federal Reserve held the policy rate steady at 3.50%–3.75% at its June meeting – an outcome that was never really in doubt. The more interesting signals came from the Summary of Economic Projections (SEP), the policy statement, and Chair Kevin Warsh’s first press conference, which may prove to be his most substantial. The statement was simplified and stripped of forward guidance, while the SEP showed a committee roughly split between holding rates steady for the remainder of the year and hiking at least once, a hawkish shift versus the previous projections in March. The hold itself was straightforward. Even ... (full story)

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