Rate Reprieve

delayed Two weeks ago the Fed met and, unsurprisingly, gave no indication that a rate rise was is the offing; inflation is too weak. Instead, the Fed strongly suggested they will commence reducing their holdings of long-dated debt following their meeting in mid-September. If, however, there’s a congressional standoff over raising the debt ceiling (imagine that), the Fed will delay the start of its asset sales to prevent roiling financial markets.

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