The U.S. Federal Reserve stirred capital markets on Wednesday with the release of the minutes from their most recent meeting in April. What startled the market was the fact that the Fed through their discussions explicitly stated a much higher likelihood for a rate hike in June than expectations. The result of the minutes was the following – the market now knows that June is back on the table. But it really should have never been off the table in the first place. And just because June is on the table, does not mean the Fed will actually move to hike rates next month.
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