Fed inaction seen as a 'hawkish pause'
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BEFORE the Federal Open Market Committee (FOMC) meeting, the market was considering three scenarios: a "dovish hike", a "hawkish pause" and a "dovish pause".
The FOMC obviously paused, but there is some debate if it was a hawkish or dovish pause.
Personally, we have a slightly more hawkish reading.
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