Fed Turns More Dovish, Admitting Decision Affected by Brexit Uncertainty

The June FOMC meeting turned out to be more dovish than expected. Besides Kansas City Fed president Esther George joining the camp to vote for keeping the policy rate unchanged, the latest dot plot suggests that more members expect only one rate hike this year, although the median remains two. Meanwhile, interest rate expectations for 2017, 2018 and the longer-term were revised lower.

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Fed Turns More Dovish, Admitting Decision Affected by Brexit Uncertainty