Fed’s hawkish suprise

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With popcorn at hand and all eyes and ears on screens and speakers last night, the June FOMC meeting didn’t disappoint in its capacity to be the major risk event on the calendar. The Fed kept its policy rates and pace of its bond buying programme unchanged as expected, but it turned a lot more optimistic about the economy going forward.

Growth is seen higher at 7% (yes SEVEN!) in 2021, half a percent up from the prior forecast, 3.3% next year and 2.4% in 2023. Unemployment was left broadly unchanged and core PCE inflation is forecast to rise sharply this year at 3% (+0.8% higher than the… Read More:

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