Federal Reserve: See you in June

As expected, the FOMC meeting left the policy rate unchanged. The statement was very balanced and insisted on the symmetric nature of the inflation goal. Attention is now shifting to the minutes, to be released on 23 May, and what they may reveal about the tightening cycle going forward. The fundamentals continue to point towards sustained growth so the real focus of markets will be on inflation and the Fed’s tolerance in case of an overshooting.

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