FOMC: a tough call to make? – BNP

By FXStreet Analysts at BNP Paribas explained that the FOMC decided to leave interest rates unchanged at its latest meeting.

Key Quotes:

“The decision was not consensual as Esther L. George, a well-known hawk, would have preferred to hike rates. We always knew that meeting would end up with at least one dissent. If the Fed had decided to increase rates, Governor Lael Brainard would have been a likely dissent.

As we argued last week1 , the call was probably tough to make. On the one hand, economic indicators have been quite positive lately, while the relative calm on financial markets was clearly opening a window for the Fed. On the other hand, the news string from abroad remained rather negative, heightening downside risks on US GDP growth.”
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Source:: FX Street