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Fortuna audaces iuvat

Posted by Yapi Kredi Bank in August 6th 2008  
The Fed left rates on hold but with a rather hawkish undertone, stressing that “Although downside risks to growth remain, the upside risks to inflation are also of significant concern to the Committee” and noting high inflation and elevated inflation expectations. Fisher dissented in favour of a rate hike. The statement is slightly less sanguine on growth—dropping the claim that downside risks to growth have diminished, already abandoned in Bernanke’s latest Testimony—but somewhat more hawkish Read More...

Filed under: Fundamental