FOMC minutes: Expect the tone to be dovish - TDS

Research Team at TDS, suggests that the dynamics underpinning Fed policy have been overtaken by the post-Brexit events, making the June FOMC minutes somewhat stale.

Key Quotes

“Nevertheless, we expect the tone to be dovish, reflecting a greater awareness among Fed officials about the negative feedback loop from global events. We also look for an increasing acknowledgement of the persistence of the structural headwinds constraining growth, which has underpinned the dovish revisions to the projected policy path.”