A sparse docket of economic data prints has left the market at the mercy of Fedspeak. It appears that a suite of top Federal Reserve officials would err on the side of over-tightening monetary policy, rather than not do enough to bring inflation down to their 2% target. Fighting inflation remains for now their economic priority. Generally, the majority of the Fed speakers jawboned to cool market expectations for rate cuts.
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By Hubert Marleau
