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Fed Speeches Eyed as Minutes Offer Few Hike Clues
Markets appear to be caught in limbo on Thursday, with European equities mixed and US futures pointing to a similar open on Wall Street. The minutes from the Federal Reserve on Wednesday, which we were hoping would provide additional clarity on its interest rate expectations, instead displayed the uncertainty the central bank has about how to proceed, largely due to the unknown effects of what Donald Trump’s stimulus plans will have on the economy and inflation. In effect, the Fed is as much in limbo as investors are because markets have rallied strongly at the prospect of “phenomenal” tax cuts and major ... (full story)