The latest from the Wall Street Journal's Jon Hilsenrath
- Federal Reserve officials lack a strong consensus for action a week before their next policy meeting
- Are leaning toward waiting until late in the year before a huike
- It is a close call
- But with inflation holding below the Fed's 2% target and the unemployment rate little changed in recent months, senior officials feel little sense of urgency about moving and an inclination toward delay, according to their public comments and recent interviews.
There is more at the full piece here, which is gated: Divided Federal Reserve Is Inclined to Stand Pat
It's a reasonable summary of where the Fed is at, but of course there are still some who expect a hike in September (market probability is around 20 odd percent last time I looked, they fell today after Brainard restated her dovish voews) and plenty more who say no hike. Hilsenrath is in the 'no' camp ... I'd concur.
