The FOMC concluded its June policy meeting on the eve of the advance reading of Q2 US GDP. Although the FOMC did not make any new policy announcements, Chair Powell sent a powerful message that members of the committee were prepared to provide "highly accommodative monetary policy and the use of our tools for an extended period." Still the question remains: what are those tools, when will they be deployed, and for how long?!
In this episode MUFG Rates Strategist, John Herrmann, lays out his growth forecast for the US economy ahead of the release of the advance reading of Q2 GDP. He also breaks down the July FOMC meeting, tells listeners what to expect from the Fed's review of its monetary policy framework, and previews potential future policy announcements.
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