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Analysts at Nomura suggest that the June FOMC meeting largely met their expectations, with the Committee raising the target range for the federal funds rate, and generally reiterated the positive US economic outlook.

Key Quotes

“We expect the minutes to provide additional insight into the Committee’s deliberations on longer-term monetary policy questions as well as the potential downside economic risks arising from US trade protectionism.”

“Specifically, the Committee’s decision to remove forward guidance language from the post-meeting statement may have been accompanied by an interesting discussion during the meeting. Moreover, Chair Powell’s surprising announcement that a press conference will be held after every FOMC meeting, starting in 2019, may also have engendered an interesting discussion.”