The FOMC meeting this week - preview (spoiler - the “on-hold” bias is quite strong)

Author: Eamonn Sheridan | Category: Central Banks

RBC have expectations of nothing much to change at the Federal Open Market Committee on Wednesday December 11

  • With financial conditions in "easy" terrain and largely unchanged since the October meeting and a phase one trade deal still seemingly on the table, the Fed is unlikely to make any substantive changes to the forward-looking language in the statement. 
  • Fed rhetoric over recent weeks suggests the "on-hold" bias is quite strong - and Chairman Powell is unlikely to back off from this position. 
  • Thus aside from any marginal mark-to-market on current conditions, this should come and go with little fanfare.

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