Jul 21
Current Rate: 2.00%
Next Rate Decision: Aug. 5
Market
Expectations: The OIS implied rate suggests markets are 16% priced in for
a 25bp hike at the next meeting and are pricing in a 41%
chance of a quarter-point hike at the September meeting.
Last week was a fairly busy week for Federal Reserve news, with two
days of testimony from Chairman Ben Bernanke before the Senate Banking
Committee on Tuesday and the House of Representatives’ Committee on
Financial Services on Wednesday. Also on Wednesday, the Federal Open
Market Committee released the minutes from its June 24-25 monetary policy
meeting.