FOMC participants’ commentary since the November meeting clearly suggests decreasing urgency to ease policy.
Ahead of next week's Fed decision, we've published our summary of FOMC participant communications since the November FOMC meeting, including analysis of the latest Beige Book and MNI's Hawk-Dove Matrix.
- FOMC participants’ commentary since the November meeting clearly suggests decreasing urgency to ease policy, with downside risks to economic activity/employment seemingly dissipating while disinflation has stalled since the summer. That is even without participants being willing to discuss the potential upside inflationary effects of tariff increases in the New Year.
- Accordingly, MNI’s Hawk-Dove Spectrum has been moved upward (in a more “hawkish” direction”) across the board since the November meeting.
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