Last quote by Sean Callow
Sean Callow quotes
Rosengren is usually on the dovish side of the spectrum, highlighting how out of line Fed chair Yellen sounded last week compared to her colleagues.
With only a short statement, we expect the Fed to repeat that normalization will proceed as data allows in 2016, though markets will be watching for any shift to a more dovish stance.
The Fed's assessment of international developments and the implications for the U.S. economy and financial markets should be focus for discussion.
This may be a function of the existing overhang of spec short EUR positions and of course doubts that the Fed will raise rates again any time soon.
We can't help feeling some déjà vu. Our baseline scenario for 2016 has been for the yuan to depreciate modestly, say 3 to 4 percent, against the dollar but see limited change in trade-weighted terms. Risks to this are skewed to more substantial depreciation, with growth sluggish and inflation low.