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Fed chair Yellen needs to rebuild Fed consensus in today's speech

All bets are on a possible Sept 2016 hike, pending data revisions or reversals

The Federal Open Market Committee's recent behaviour shows they have raised the importance of global events, especially events that herald potential downside risks with latest polls suggesting Brexit risk has increased.

FED Chair Janet Yellen faces the challenge of rebuilding and reinforcing the Federal Open Market Committee's (FOMC) faltering consensus regarding the timing of the next rate increase.

Until Friday's employment report, global and US economic developments had satisfied the preconditions for