I've posted up a few previews of the Federal Open Market Committee meeting:
- Barclays, highlighting the main point of interest
- Goldman Sachs preview of the Federal Open Market Committee meeting this week
- Is it next week yet? Morgan Stanley on the upcoming FOMC meeting
- The FOMC meet this week, Reuters ask: Global Turning Point in Monetary Policy ?
Here is a quickie, this time from JPM:
- We expect no change in the funds rate target
- And no change in balance sheet policy
- We think there is a ~20% chance for the Fed to begin the balance sheet normalization process at the July meeting
- The policy guidance will likely signal an inclination to begin the normalization process in September but we don't anticipate changes to the Fed Funds outlook
- We expect the statement will sound more upbeat on the labor market, about similarly confident on growth, but more cautious on inflation
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ps. The announcement from the FOMC will come at 1800GMT. I'd really like it to take the form of Janet Yellen screaming "NOTHING!!!" but it probably won't.
- At this meeting there is no 'Summary of Economic Projections' update issued
- Nor is there a press conference by Yellen
