Kevin Warsh delivers cautios narrative with noticably dovish tilt:
Economic Growth:
- "ECONOMIC ACTIVITY IS EXPANDING AT A STRONG PACE"
- "INFLATION REMAINS ELEVATED"
- "FED BELIEVES MORE INFORMATION WILL HELP DETERMINE STANCE"
- "COMMITTEE WILL DELIVER PRICE STABILITY"
- "DOMESTIC SPENDING HAS BEEN RESILIENT"
Financial Enviorment:
- "FINANCIAL CONDITIONS TIGHTER, UNABLE TO CALL THEM TIGHT"
- "WE'VE STARTED TO SEE SOME CHANGE IN FINANCIAL CONDITIONS"
- "MUST ENSURE RELATIVE PRICE CHANGES DON'T BROADEN OUT"
- "FED BELIEVES MORE INFORMATION WILL HELP DETERMINE STANCE"
Change in schedule of FOMC meetings was changed:
- "FOMC SCHEDULE WILL CHANGE AS OF NEXT FALL"
- "WE BELIEVE EIGHT MEETINGS PER YEAR IS RIGHT NUMBER"
- "IN 2027, ONE MEETING WON'T HAVE VOTE ON RATES, STATEMENT"
Q&A:
- "I FEEL GOOD ABOUT INFLATION EXPECTATIONS SIGN POSTS"
- "INFLATION COMPENSATION IS GOING THE RIGHT WAY"
- "TREASURY YIELDS RETREAT FROM DAY'S HIGHS AMID WARSH COMMENTS"
- "ENCOURAGED BY PROGRESS WE'VE MADE IN SHORT PERIOD"
- "THERE'S NO FIRM CONCLUSIONS NOW ABOUT MONETARY POLIC"
- "WE WILL DELIVER PRICE STABILITY, NO IFS ANDS OR BUTS"
- "THERE IS NO SOFT OR IMPLICIT INFLATION TARGET"
- "I MIGHT HAVE A FEW WORDS TO SAY AT NOV. 16 FIELD HEARING"
- "BALANCE SHEET NOW SOLELY WITHIN FOUR WALLS OF TASK FORCE"
- "POLITICS PLAYED NO ROLE IN FED DECISION"
- "MOST AT FED DON'T THINK ECONOMY IS RUNNING TOO HOT"
EURUSD (M1)
Source: xStation5
🚨FED Holds rates💲
Time for a pause – what will determine the strength of the dollar? [Pre-FOMC Report]
US OPEN: The market awaits the Fed and Google’s earnings.
BREAKING: Bank of Canada hikes for the first time in 3 years but signals caution on further moves
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