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- Fed: A hike after July is highly unlikely – Rabobank
Fed: A hike after July is highly unlikely – Rabobank
Economists at Rabobank analyze the minutes of the FOMC meeting on June 13-14.
Skipper Powell needs a minute
The minutes of the June 13-14 meeting of the FOMC reveal that some participants actually wanted to raise rates. In contrast, at the press conference on June 14, Powell said he wanted a more moderate pace.
Meanwhile, the Fed staff seems less convinced of its recession forecast. Or is this pressure from the FOMC?
Finally, in a show of thought control, the minutes did not use the words ‘skip’ or ‘pause.’ So, whatever it was in June: it was neither a skip nor a pause.
Looking ahead, we continue to have our doubts about a second rate hike after July, as long as Powell clings to a more moderate pace of the hiking cycle.
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