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Minutes of the Federal Open Market Committee
The manager of the System Open Market Account (SOMA) reported on developments in domestic and foreign financial markets during the period since the Committee met on April 26-27, 2016. Market participants' expectations for a firming of monetary policy at the June FOMC meeting rose considerably in the middle of the period, largely in response to monetary policy communications, but those expectations subsequently fell sharply following the release of labor market data for May. Nominal yields on Treasury securities declined over the period. Forward measures of inflation compensation derived from yields on nominal and ... (full story)