MNI reporting the latest client note from JPM which highlights the uncertainty over the Fed's current position
"The FOMC meeting is a very close call - we view it as essentially a coin flip. The economic data present a clear case for the Fed to begin the normalization
process this week. However, the recent financial market turbulence complicates he decision.
We think in this environment the best policy is for the Fed to
hike this week with communications that reinforce its message that it is the
pace that matters, and the pace will likely be gradual and responsive to
changing risks."
I've long been saying that both the Fed and BOE are understandably running scared of hiking rates but my gut now feels that the Fed could indeed pull the trigger this week
I won't be backing it in a trade but similarly I won't be so surprised.
Only another 3 days until we find out
