The Federal Reserve's Federal Open Market Committee (FOMC) meeting concludes Wednesday, 14 June 2023:
Statement due at 2pm US Eastern time and Powell's news conference follows a half hour later
Earlier previews:
- Goldman Sachs: FOMC likely to keep rates unchanged; dollar depreciation expected later
- Week Ahead: US CPI, FOMC, Retail Sales; ECB; PBoC, China activity data
This snippet via RBC after the CPI data on Tuesday from a longer note on what to expect - a pause is the TL;DR:
- Inflation continues to slow in the U.S. and the breadth of pressures continues to narrow. But prices are still rising faster than the Fed’s target rate. Consumer spending has been resilient and labour markets are still tight even with lower job openings and a tick higher in the unemployment rate in May.
- Fed officials earlier indicated that they will likely ‘skip’ a rate hike at tomorrow’s policy decision, and today’s inflation data should reinforce that view. But another 25 bp hike in July still looks likely.
