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Fed: Labour market conditions improved further - Rabobank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 28, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Delhi) - Michael Every, Head of Financial Markets Research at Rabobank, notes that yesterday’s Fed meeting saw no change in rates (as widely expected); admitted that US growth had slowed.

    Key Quotes

    “It raised concerns over the global picture; and saw the strange addition of an updated ‘Statement on Longer-Run Goals and Monetary Policy Strategy’ that added they would be concerned if inflation were running persistently above or below the 2% objective, as it is, and as it was at the time of the December meeting.

    However, the Fed statement started with a note that “labor market conditions had improved further”, suggesting this is something they are still focusing on. By showing markedly more reserve than in December, but yet with a hint of a Janus-face, they certainly confounded the markets: US stocks closed in the red (S&P-1.1%); the broad USD index ended the session slightly lower; and US 10-year yields closed little changed at 1.99% having risen as high as 2.04%.”
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