Plosser and Fisher Looking For Less of A Cut-- Maybe A Move Toward A Hawkish Stance?
Plosser and Fisher sought a smaller rate cut, which is the biggest move to the hawkish side that we have seen in a while. Also, slightly surprising is they voted for the discount rate cut, but not the expanded federal funds rate cut.
This is conjecture, but the statement seems to be shifting focus on letting the rate cuts in the system digest and moving towards focusing a little more on inflation. Certainly a slight shift, but they spoke about inflation more than they have in the past.
Gold and silver taking a hit now too. [JT]
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