Fed Minutes: May 24, 2023

Futures are off about 0.5% in advance of the latest FOMC minutes. While these releases don’t often shed much light on what to expect, they can help us understand what the Fed fears the most. Based on recent comments, the fear of sticky inflation seems to be outweighing the fear of a recession.With the debt ceiling crisis, banking crisis and recession still grabbing headlines, it’s clear that the Fed is still stuck between a rock and a hard place.

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