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July 29, 2026
FOMC - Warsh leaves markets confused
July 29, 2026 7:30 PM UTC
That this FOMC meeting showed a 9-3 vote for unchanged policy, with the dissents being for tightening, shows there was a case for tightening and a case for steady policy. However, the press conference from Chairman Warsh gave little insight on the nature of the debate, talking a lot about how the Fe
FOMC - Warsh leaves markets confused
July 29, 2026 7:30 PM UTC
That this FOMC meeting showed a 9-3 vote for unchanged policy, with the dissents being for tightening, shows there was a case for tightening and a case for steady policy. However, the press conference from Chairman Warsh gave little insight on the nature of the debate, talking a lot about how the Fe
FOMC leaves rates unchanged with three hawkish dissents, Bank of Canada minutes a slightly hawkish lean
July 29, 2026 6:18 PM UTC
The FOMC has left rates unchanged as we expected, in a 9-3 vote, with three hawkish dissents for a 25bps tightening, from Cleveland Fed’s Hammack, Dallas Fed’s Logan and Minneapolis Fed’s Kashkari. We had expected only the first two of the three dissents, but Kashkari’s is not a major shock.
FOMC leaves rates unchanged with three hawkish dissents, Bank of Canada minutes a slightly hawkish lean
July 29, 2026 6:17 PM UTC
The FOMC has left rates unchanged as we expected, in a 9-3 vote, with three hawkish dissents for a 25bps tightening, from Cleveland Fed’s Hammack, Dallas Fed’s Logan and Minneapolis Fed’s Kashkari. We had expected only the first two of the three dissents, but Kashkari’s is not a major shock.
Preview: Due July 30 - U.S. June Personal Income and Spending - PCE Prices not quite as soft as CPI
July 29, 2026 12:47 PM UTC
June’s personal income and spending report may be overshadowed by the Q2 GDP report released at the same time. We expect a subdued 0.1% increase in core PCE prices, with overall PCE prices down by 0.1%, leaving gains of 0.3% in both personal income and personal spending looking respectable in real
Preview: Due July 30 - U.S. June Personal Income and Spending - PCE Prices not quite as soft as CPI
July 29, 2026 12:46 PM UTC
June’s personal income and spending report may be overshadowed by the Q2 GDP report released at the same time. We expect a subdued 0.1% increase in core PCE prices, with overall PCE prices down by 0.1%, leaving gains of 0.3% in both personal income and personal spending looking respectable in real
Brazil: Post-Election Fiscal Challenge
July 29, 2026 10:55 AM UTC
· Brazil needs better fiscal consolidation from 2028 onwards, which a new president will have to decide on after the October 2028 election. This includes better expenditure control, as mandatory spending currently comprises about 90 percent of federal primary expenditure. Any delinkin
