In preview of the FOMC meeting This week, Rabobank’s research team believes the FOMC will update the economic outlook and projections amid improved data and approval of the American Rescue Plan.
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“In the post-meeting press conference, Fed Chairman Powell will have a tough job reversing market expectations of higher inflation and earlier hikes in monetary policy rates. An upward shift. on the dot plot could make your job even more difficult. “
“Even if rising yields by itself were not a problem for economic recovery, it could cause cascading effects that would justify central bank intervention.”
“If verbally rejecting market pressures is not enough in the days and weeks to come, the Fed’s next step could be an adjustment to the asset purchase program. If reflation trading really gets out of control, the FOMC may be seen to forced to review the yield curve control option. “
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