FOMC minutes expected on the dovish side – TDS

Strategists at TD Securities see the upcoming FOMC minutes biased towards the dovish side.

Key Quotes

“Even though the April FOMC meeting was devoid o f any fireworks, with no SEP or
press conference, the minutes o f the meeting will provide some crucial direction to the markets on the Fed’s assessment on the outlook for growth and inflation, as well as the prospects for a near term hike”.

“TD expects the tone o f this report to be dovish, reflecting the continued uncertainty about the outlook and the cautious approach to policy normalization”.