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FOMC Minutes Signal Fed Ready To Hike Above 'Neutral', Backs Multiple 50bps Hikes
Bloomberg's 'Sentiment of the Minutes Indicator' suggests the minutes were just as hawkish as the last set, remaining nearly as hawkish as the Fed has tended to be the last 30 years... Since the FOMC Statement and press conference on May 4th, a lot has changed...making the Minutes for that meeting somewhat 'meh'. In the three weeks since The Fed hiked rates and laid out its path for QT, US Macro data has serially disappointed at an almost unprecedented pace... led by 'housing', 'labor', and 'survey' data. chart Bonds, gold, and the dollar are all marginally changed since Powell's presser (albeit amid notable ... (full story)