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#SepFOMCRateHikeOutlook The Fed may be running out of clean choices 👀
Hiring slowed to just 29K, yet services prices climbed to 74.0. One argues for patience. The other keeps another hike alive.
What caught my attention is that both can be true at once
Tonight's minutes aren't just about whether officials sound hawkish. They're about which risk the Fed fears more if forced to choose
The next policy mistake may come from fighting inflation too long, or backing off before the job is finished
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