Week InReview: July 8, 2022

Fed minutes.
The Fed released the minutes from their most recent interest-rate setting meeting, and they again underscored their commitment to getting inflation down. Many on the Federal Open Market Committee saw the risk of entrenched inflation, and signaled that a 50 or a 75 basis-point hike at the July FOMC was most likely. The Fed also made clear it's ready to prioritize inflation over growth. On the latter front, tomorrow sees the release of non-farm payrolls in the US. Jobs data still remain upbeat, with layoffs steady in May, while unemployment claims remain historically very low.

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