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Downside Surprises Affect the FOMC More Than Upside Surprises

Yellen Still Waiting for Overwhelming Evidence to Warrant Hike

Bloomberg News on July 25, 2016

“Upside surprises affect the committee less than downside surprises,” says former Fed governor Laurence Meyer, who now runs a Washington policy analysis firm that bears his name. “There is not a chance that they are going to go at this meeting.”