US Dollar: FOMC minutes to offer limited fresh clues – TD Securities
TD Securities analysts characterize the upcoming September FOMC minutes as largely outdated given subsequent employment and PCE data. The minutes are expected to show disagreement over how much further tightening is needed, but broad consensus that policy should remain more restrictive.
TD Securities analysts predict the forthcoming September FOMC minutes will provide minimal new insights, as fresh employment and Personal Consumption Expenditures (PCE) data have recently been released. The minutes are anticipated to reveal disagreements among policymakers regarding the degree of further tightening, but a general consensus that policy should remain more restrictive.
The September FOMC minutes are expected to highlight the ongoing debate over the level of rate hikes needed, even though there is broad agreement that interest rates ought to be more restrictive. Participants are expected to view the forthcoming meeting with a lack of urgency, in line with previous Federal Reserve communications.
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