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FOMC To Be Careful About Reacting To Single Data Point

FED
  • Q: If you're data dependent, why not pause again given June CPI / jobs?
  • A: We're trying to achieve a stance of policy that's sufficiently restrictive. We wrote down our estimates at the last meeting, the median was 2 more hikes. We looked at the inter-meeting data, was broadly consistent with expectations, so we took another step. We'll be careful about taking too much signal from a single reading.

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