FOMC: November meeting is likely to be uneventful - TDS
|According to analysts at TDS, the November FOMC meeting is likely to be uneventful: no changes to policy and no substantive changes in language, with no scheduled press conference or forecast updates.
Key Quotes
“We see two-sided risks: more cautious language on the inflation outlook would be dovish, while some signal about a likely rate hike in December would be hawkish.”
“Given high market pricing for a December hike, we expect any hawkish tone in the statement to have a more modest impact on Treasuries than a dovish bias.”
“A well-priced Fed in the short-term suggests the USD has more to lose than to gain. Absent a dovish inflation characterization, developments abroad and selection of the next Fed Chair should leave the USD supported still.”
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