FOMC More Confident Over Inflation Outlook

The Fed turned more upbeat on the economic and inflation outlook. The market also viewed the Fed’s language that there would be “further increase” in the policy rate as a hawkish move. While this helped send short-term Treasury yields higher, US dollar failed to maintain the recovery. Meanwhile, in its quarterly funding statement, the Treasury indicated it would raise the size of short-term debt sales in the coming months more than medium- and long-term debt auctions.

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FOMC More Confident Over Inflation Outlook