TD Securities: Data Now Guiding Central Bank Rate Paths

Pooja Kumra, Senior European and UK Rates Strategist at TD Securities, said Federal Reserve official Kevin Warsh's recent remarks on inflation were less hawkish than comments made at the June Fed meeting. Kumra noted that the Fed has not provided forward rate guidance, meaning market data and economic conditions will drive central bank rate decisions. She said she expects the Fed's meeting minutes to provide insight into internal deliberations at the central bank.

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