FOMC minutes: dovish tone

June FOMC meeting minutes, released on Wednesday, turned out to be a dovish factor for the US currency. Here are the major points you have to know about the document:

  • Many FOMC members need more recovery proofs to tighten monetary policy;
  • Some of them are worried about a premature rate hike;
  • Some of them think the economy is ready for the first hike;
  • Greek problems are dangerous for the US economy;
  • Some FOMC members doubt Greece will find a compromise with EU;
  • US labor market recovered over Q2;
  • After the first hike the economy should be closely monitored.

Meanwhile, the Federal Reserve Bank of San Francisco President John Williams still sees a first rate hike in 2015. 

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