Fed presidents now opt for status quo - Nomura
|Analysts at Nomura noted the two Fed presidents who had hinted at September rate hike opt for status quo.
Key Quotes:
"One surprise from the FOMC meeting was that New York Fed President William Dudley and St. Louis Fed President James Bullard, who had appeared to support a rate hike, both voted in favor of leaving policy on hold. Mr Bullard had said in a CNBC television program in August that September “might be a good time” to raise rates.
This is important because all of the FOMC members based in Washington and New York voted to leave rates on hold, whereas three of the four regional Fed presidents with voting rights (Mr Bullard was the single exception) supported a rate hike.
San Francisco Fed President John Williams, who is not currently a voting member, has also been making a strong case for a rate increase for some time. This means a good number of regional Fed presidents whose attention is focused on the US economy think it is time to tighten."
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