Will EUR/USD bears wait till Jackson Hole symposium?
When there is no agreement among the partners, their work will not progress. The publication of the minutes of the FOMC July meeting revealed why Jerome Powell had faced difficulties at the press-conference. Although most of the Fed’s officials considered the reduction of the federal funds rate from 2.5% to 2.25% to be a “midcycle adjustment” of the monetary policy in response to a recent change in the economic outlook, two board members didn’t vote for the monetary easing, and the other two expressed an opinion that there should have been a 50-bps rate…
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