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Analysts at TD Securities are expecting the FOMC minutes from the June meeting to offer more clarity on what would lead the Fed to lend support to the US economy following the notable dovish shift by several Fed officials: almost half of them are looking for an easier policy stance by the end of this year.

Key Quotes

“We look for discussions regarding the risks to the economic expansion (crosscurrents) and a characterization of the inflation outlook given the revisions to the downside for those projections. We also expect the minutes to expand on the decision adopted by some Fed officials to lower their long-run rate projections (the median now stands 25bp lower at 2.50%).”