FOMC minutes were pretty clear - Scotiabank
|Analysts at Scotiabank explained that the message in the FOMC minutes was pretty clear.
Key Quotes:
"If there is evidence that the economy has rebounded to start Q2, assuming that international risks remain contained, then the Fed will increase its policy rates.
("Most participants judged that if incoming data were consistent with economic growth picking up in the second quarter, labor market conditions continuing to strengthen, and inflation making progress toward the Committee’s 2 percent objective, then it likely would be appropriate for the Committee to increase the target range for the federal funds rate in June.").
"Of course, the minutes also reflected that there are a range of views regarding both a) the likelihood that the data will reflect a rebound in Q2, and b) the possibility that enough data will be released so as to conclusively reflect a rebound in Q2 by the time of the June meeting. Therefore, whether senior Fed officials think they can know if the economy rebounded to start Q2 by the June meeting is a key question."
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