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Here comes the Fed ...

Jul 8, 2015, 23:03 IST

The Minutes from the latest FOMC meeting are set for release at the top of the hour.

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In June, the Fed kept interest rates unchanged, as expected, but still signaled that it expects to raise interest rates at some point this year.

Along with the statement, the Fed also released its latest economic projections, which saw the Fed keep its unemployment target over the long-term unchanged while downgrading GDP expectations for 2015.

The Minutes will give us color on how various Fed members are thinking about the economy at large and their thoughts on interest rate increases beyond the "dot plot," which is merely a collection of median interest rate expectations at various points in the future.

The big news in markets over the last few weeks have been Greece and China, both fo which have really flared up in the last 2 weeks, after the Fed met. And so to this end, the Fed won't be of much help.

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We'll be back with a full breakdown when the Minutes drop.

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