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.