June 15, 2006
No More Questions About The June FOMC Meeting
The aftermath of the inflation report on market expectations about what the FOMC will do next:
For the first time in our estimates, the probability that the funds rate target will be pushed to 5.5% by the time the August FOMC meeting is done exceeds the implied probability of a pause sometime this summer (if only by a little):
The details and the data will be available later this morning at the Federal Reserve Bank of Clevelandf website.
UPDATE: Calculated Risk agrees: "The June Fed Debate Appears Over".
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