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Minutes of the Federal Open Market Committee, June 13–14, 2023
The manager turned first to a review of developments in financial markets. Policy-sensitive rates increased over the intermeeting period, reflecting indications of continued resilience in the economy, persistently elevated core inflation, and reduced downside tail risks following the resolution of the debt limit. The shift in policy expectations contributed significantly to higher Treasury yields. The increase in nominal yields primarily reflected higher real rates rather than inflation compensation. Broad equity prices rose, al though the outperformance was concentrated in a handful of companies with a large market ... (full story)
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*DJ FOMC Minutes: 'Some' Officials Favored 25 Basis Point Increase At June Meeting
— *Walter Bloomberg (@DeItaone) July 5, 2023
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FOMC Minutes: 'Almost All' Officials Noted in SEP That Additional Rate Increases Would Be Appropriate in 2023
— *Walter Bloomberg (@DeItaone) July 5, 2023
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FOMC Minutes: Core Inflation Had Not Show Sustained Easing Since Beginning of Year
— *Walter Bloomberg (@DeItaone) July 5, 2023
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FOMC Minutes: Staff Still See Mild Recession Later This Year, Followed By Moderately Paced Recovery
— *Walter Bloomberg (@DeItaone) July 5, 2023
FOMC Minutes: Staff Saw Possibility of Avoiding Downturn Almost As Likely As Mild Recession Baseline