Fomc Minutes Outline Willingness To Hike, US & Asian Markets Rise | ET Now | Latest News
5The Fed released the minutes of its meeting held in June and the minutes suggest that members expect risks of inflation to get entrenched. With that, the Fed is largely willing to adopt an even more restrictive policy approach if inflation does not come down. On the back of that, Fed officials expect a 50 to 75 basis point rate hike in the July meeting. The reaction to this saw Treasury yields jump as the Fed is expected to hike rates to 3.4% by year-end. Despite this, all 3 US indices rose in trade yesterday. The positive handover pushed Asian indices higher as well. On the commodities side though, Gold fell to a 9month low, and oil continue to trend lower.
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