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Fed Minutes Seem to indicate June hIke

Posted by Joseph Trevisani on May 24, 2017 5:27:57 PM

The Federal Reserve seems ready to raise interest rates next month as long economic growth recovers from its first quarter slowdown.

The minutes of  the Federal Reserve Open Market Committee meeting of May 2-3 noted that "Most participants judged that if economic information came in about in line with their expectations it would soon be appropriate for the committee to take another step in removing some policy accomodation."

 Even though in the Fed's words  "it would be prudent" to wait for evidence that the anemic 0.7 percent annual expansion rate of the first three months was temporary, the Fed Funds Futures indicate that the market judges the chance of a this year's second rate hike to be nearly 80 percent.  

Joseph Trevisani

Chief Market Strategist

WorldWideMarkets

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