FOMC minutes confirm 50bps hikes in June and July (USD/JPY, GBP/USD)

FOMC minutes confirm 50bps hikes in June and July (USD/JPY, GBP/USD)

From forex.com

The Fed minutes have confirmed ‘most participants’ are on board to hike by 50-bps at their next two meetings. This would be their third 50-bps hike in as many meetings and take interest rates to 2% by July. With inflation risks ‘skewed to the upside’, markets are pricing in rates to finish the year at 2.75%, although only with a 58.9% probability. And that is because we’re all questioning as to whether the Fed really can tame eye-watering levels of inflation without triggering a hard landing. The minutes also raised concerns that if inflation expectations remained elevated it would become difficult to guide ... (full story)

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