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Michael 897
Michael 897
Minutes released: Hawkish tone, but October will most likely remain on hold. Most members believe there is room for one more rate hike this year, but the key phrase is "before the end of the year," not locked in for the next meeting. The market prices about an 82% chance of no change in October. Significant internal divisions: one faction closely watches inflation rebound, another bluntly states current rates are not very tight. If action happens in December, there will be more friction after.

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