FOMC meeting underway – BTMU

By FXStreet FXStreet (Guatemala) – Derek Halpenny, at the Bank of Tokyo-Mitsubishi UFJ, Ltd noted that the FOMC meeting gets under way today with a decision due tomorrow evening.

Key Quotes:

“The US data released yesterday were mixed with the retail sales data broadly positive when the July upward revisions are considered but the manufacturing report was weak. Certainly, there was clear evidence of underlying strength in retail sales with the ‘Control Group’ retail sales up a stronger than expected 0.4% m/m.

That August gain means that ‘Control Group’ retail sales that is a key component in personal consumption in the real GDP data, is up 5.3% on an annualised basis so far in Q3.”

“The FOMC is not particularly concerned about the growth side of the economy and is more focused on having evidence in front of them that raises confidence amongst FOMC members that inflation will reach its target level over time.”
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Source:: FX Street