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Yellen: Majority of FOMC see a rate rise likely needed this year

Finally some comments about the current situation

  • Job creation pace is above a sustainable rate

  • Pleasantly surprised the jobless rate is steady

  • Still expect jobless rate to fall further
  • Fed is not seeing upward pressure on inflation
  • We would gradually remove accommodation on our current course
  • Majority of FOMC see a rate rise likely needed this year
  • Has never seen politics enter Fed policy debate

Only one comment here that the market is concerned with. The buck has reacted to it with USDJPY up around 25 pips to 100.72. Cable is down in the lows again, as is the euro. USDCAD is looking the biggest gainer as it checks out the recent highs around 1.3270.

We can't rule out Nov but Dec is still in the main date in the frame. Fed funds futures point to a 56% chance of Dec vs 49.9% yesterday. Nov's gone 15.0% to 17.1% today

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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