Fed Minutes Set to Show Only a Minority Saw End of Tightening

Bloomberg2023-08-16

Majority were cautiously optimistic, Bloomberg Economics saysOfficials may have turned more dovish since the July meetingA record of the Federal Reserve’s July policy meeting due Wednesday is set to ...

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Others, including Fed Governor Michelle Bowman, have taken the opposite view.Investors currently do not expect another rate increase this year, according to futures contracts, though the implied odds of a hike at the Oct. 31-Nov. 1 meeting are higher than those for their next meeting on Sept. 19-20. Fed watchers will listen for a possible signal from Powell at the Kansas City Fed’s annual Jackson Hole conference in Wyoming next week.While the minutes may give a sense of the relative size of each camp on the committee at the time of the July meeting, economic data released since then may have already altered the balance, according to Wong and Paul.They pointed in particular to a quarterly report on wage growth published on July 28, which showed a sharp deceleration, and an Aug. 3 report on unit labor costs which also revealed a subdued rate of increase.“That should help limit concerns the labor market will further fuel inflation,” the Bloomberg economists wrote. “As such, we expect FOMC sentiment has turned more dovish since the July meeting.”","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":8,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1100085316"}