“Any FOMC effort at balance will come across as hawkish.”
That’s from Steven Englander at Citi, and it’s a perfect preview of this week’s Federal Reserve meeting, which takes place on Tuesday and Wednesday.
Essentially, the market totally sees the Fed as being “on hold” and likely to not taper QE until March.
Any hint that the Fed is chomping at the bit and being more balanced will be seen as hawkish.
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