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Powell Up Shortly; To Downplay The Dots?

FED

The classic here of course would be for Powell to walk back some of the decision's clear hawkishness in the press conference with some of the usual language on how far the economy remains from "substantial further progress".

  • Our Policy team's take from last week, speaking to ex-officials, is that Powell "will downplay the significance of additional FOMC members penciling in an earlier rate hike even if the median projection for liftoff shifts forward to 2023"
  • We'll see shortly, press conference link: https://www.federalreserve.gov/live-broadcast.htm

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