On Thursday July 3 we get the minutes of the June Federal Open Market Committee meeting, here is quick preview
Its via Nomura:
- The June FOMC meeting largely met our expectations
- the Committee raising the target range for the federal funds rate, and generally reiterated the positive US economic outlook
- We expect the minutes to provide additional insight into the Committee's deliberations on longer-term monetary policy questions as well as the potential downside economic risks arising from US trade protectionism.
- Specifically, the Committee's decision to remove forward guidance language from the post-meeting statement may have been accompanied by an interesting discussion during the meeting.
- Moreover, Chair Powell's surprising announcement that a press conference will be held after every FOMC meeting, starting in 2019, may also have engendered an interesting discussion
