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FOMC preview: Fed remains inclined to cut
US growth, jobs and inflation data remain too hot for the Federal Reserve to contemplate imminent interest rate cuts with some commentators still arguing the Fed has more work to do to control inflation. However, there is little prospect of action at next week’s meeting with Chair Jerome Powell stating that both he and his colleagues "believe that our policy rate is likely at its peak for this tightening cycle" when appearing before Congress on 6 March. Indeed, we (like the market) think the next move is a cut, most likely in June since Powell also suggested that officials are “not far” from having the ... (full story)