Will Powell Listen to the Staffers?
Investors are now second-guessing just how dovish Jay Powell will sound today, as the swaps market, having priced in 100% odds of a September 17th rate cut just last week, has now cut those odds at around 70%. All market quotes are time-stamped to 4:15 a.m. ET.
But I am still a bit mesmerized by what the Fed staffers had to say in this latest set of FOMC minutes:
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