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The FOMC’s statement’s key points - BBH

FXStreet (Barcelona) - Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman recalled that the FOMC statement contained three key points.

Key Quotes

"First it characterized the slack in the labor market as significant. One may want to argue that this has been superseded by the recent jobs report that saw the unemployment rate fall below 6%."

"However, Dudley repeated that characterization yesterday. Second, there is the "considerable" period of time between the end of asset purchases and the need to hike rates."

"Dudley again indicated that expectations for a rate hike in mid-2015 are "reasonable." That suggests a rough definition of "considerable period.”"

"At the end of the FOMC statement, there is a third piece of forward guidance. Even after the inflation and unemployment are consistent with the Fed's mandates, economic conditions may warrant a lower Fed funds rate than officials would regard as the long-term equilibrium rate."

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