Barclays says count on a hawkish Fed and Powell at this week's FOMC assembly

The Federal Open Market Committee (FOMC) meet this week, assertion and presser is due on Wednesday (timings and so on right here):

• It’s a huge week ahead – the FOMC is the highlight but there are plenty of others

Barclays count on a pivot again to hawkish:

• “Inflation data have turnedd back up this year. And that will force Powell to become a little more hawkish again,”

Whereas the potential for a June price lower is nicely and really off the desk, Barclays say it may very well be as late as December:

• “We see September as being the earliest opportunity for the Fed to cut rates” and add that its nearly as probably that the primary lower is available in December

Barclays see just one lower this 12 months:

• “We think that the level of rates still above 5% would be justified by year end”

JP Morgan, in the meantime:

• Fed intends “to keep policy in its current restrictive stance for as long as it takes to gain that confidence” (that inflation is coming down to focus on

This text was written by Eamonn Sheridan at www.forexlive.com.