The dynamic around the Federal Reserve has changed this year. Whilst for the past few years traders felt pretty comfortable second guessing what would, or would not, happen to the Federal Funds Rate, tomorrow's decision feels very much up in the air.On one hand, there's the pressure the Trump administration's trade war is putting on certain areas of the economy, on the other, inflation is still tracking sub-2 per cent and on Friday, retail sales rose 0.5 per cent month-on-month in May, up from 0.3 per cent in April. All-in-all it all feels a little bit one step forward, one step backwards at the moment for the world's most important economy.So we thought it was worth sharing this neat chart from Deutsche Bank's graph-master Torsten Slok ahead of the decision by Powell and friends
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The dynamic around the Federal Reserve has changed this year. Whilst for the past few years...