July FOMC Meeting – Will it be a non-event?
Summary:
FOMC meeting is due on Wednesday, July 26th
There will be no press conference after the FOMC statement
Fed officials are likely to communicate further on the plans to unwind the balance sheet
Markets expecting a less than 10% chance of a rate hike this week
Overall odds of a rate hike for the rest of the year stands just around 50%
Fed unlikely to change much of its communication
The FOMC meeting this Wednesday, July 26th is likely to pass off as a non-event as investors were seen not expecting much from the central bank this week. The fact that there is also no press conference following the FOMC statement potentially lowers the odds of any surprises from this week's meeting.
The fact that the Fed funds futures rate hike probability has odds of less than 1...