Investors on Edge Ahead of Brainard's Speech
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Investors were on edge ahead of key speech from Fed Governor Lael Brinard at 1:15 pm. Chatter continues to suggest that the speech may include hawkish undertones. Despite these concerns, many investors have trimmed hawkish bets since Friday. They also trimmed bets despite comments earlier from Atlanta Fed Bank President Dennis Lockhart, who said "serious discussion" was warranted.
According to Reuters, Fed Governor Lael Brainard's speech will be scrutinized to see if she maintains her dovish stance on rates or takes a more aggressive posture.
Bloomberg's WIRP function predicts a 28% probability of a hike in September. This is down slightly since late Friday.
The Fed's next policy-setting meeting is on Sept. 20-21.
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