Back
13 Mar 2015
FOMC Meeting: Losing ‘patience’ – ING
FXStreet (Barcelona) - With the FOMC meeting set to create fireworks next week, the ING team believes that Fed might provide hints for a probable June rate hike.
Key Quotes
“The Federal Reserve policy meeting will be this week’s main event. The strength of the US labour market data clearly hints at the possibility of a rate hike in the near future, but activity data has been disappointing, a fact underlined by three consecutive monthly falls in retail sales.”
“We believe the weather has been a disruptive influence here and, with consumer confidence up at pre-crisis highs, we expect to see stronger data in the next few months.”
“As such, we continue to favour a June rate hike from the Fed and, given recent comments from several Fed speakers, suspect that there will be hints within the FOMC statement that action may soon be forthcoming.”
“The most obvious change would be for the FOMC statement to amend the phraseology that it can “be patient” with regard to normalising monetary policy.”
Key Quotes
“The Federal Reserve policy meeting will be this week’s main event. The strength of the US labour market data clearly hints at the possibility of a rate hike in the near future, but activity data has been disappointing, a fact underlined by three consecutive monthly falls in retail sales.”
“We believe the weather has been a disruptive influence here and, with consumer confidence up at pre-crisis highs, we expect to see stronger data in the next few months.”
“As such, we continue to favour a June rate hike from the Fed and, given recent comments from several Fed speakers, suspect that there will be hints within the FOMC statement that action may soon be forthcoming.”
“The most obvious change would be for the FOMC statement to amend the phraseology that it can “be patient” with regard to normalising monetary policy.”