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And BMO's Lyngen added that other FOMC......>

US VIEW
US VIEW: And BMO's Lyngen added that other FOMC statement changes "included
specifying inflation as impacted by the storms, with the phrase
"Hurricane-related disruptions and rebuilding will continue to affect economic
activity, employment, and inflation in the near term, but past experience
suggests that the storms are unlikely to materially alter the course of the
national economy over the medium term." This serves to further excuse-away any
noise related in the data as we approach the Dec FOMC meeting" so "a hike
remains effectively fully priced-in, and we don't see anything in this statement
that would shift that bias."
- Lyngen quips that "as an aside, Quarles didn't dissent" at his first FOMC
meeting, "not a surprise, but hey, it was a slow day."

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