The Fed leaves the interest rate unchanged. There is one dissenter: Lacker, as expected. One participant said they will not hike until 2017 but the majority sees a hike later this year. The Federal Reserve is monitoring developments abroad – watching China? The dot plot looks lower. It looks like one hike in 2015, a one and done, with a lower projection later on. Only 13 see a hike in 2015, contrary to 2015 beforehand, but this is still a majority.
The USD crashes as the dovish components emerge.
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