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A change in the Fed’s forward guidance? – Danske Bank

FXStreet (Edinburgh) - According to Allan von Mehren, Chief Analyst at Danske Bank, the Fed could be biased to change its communication scheme in the September meeting.

Key Quotes

“Fed’s Rosengren (non-voter, dove) called Friday’s Ppayroll report ‘somewhat disappointing’ but at the same time said he was ‘pretty confident we are on the right track’”.

“Interestingly he also added that ‘we would be moving away from providing date-based forward guidance, and instead focus on what incoming data tell us about reaching full employment and 2 percent inflation within a reasonable period’”.

“This reiterates the view of many Fed members recently arguing for a change of the ‘considerable period ‘forward guidance to a more data-dependent phrase”.

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