FOMC

Economists see the Fed ending quantitative tightening soon, but don't agree exactly when.

Federal Reserve Gov. Michael Barr called for a cautious approach, emphasizing the possibility that tariffs will create persistent inflation. 

Will the Federal Reserve cut rates in October? BNP Paribas Chief U.S. Economist James Egelhof discusses the meeting and Chair Jerome Powell's press conference.

By the close, muni yields were bumped up to four basis points, depending on the curve, while UST yields rose two to five basis points.

Despite the expected rate cut, analysts will be watching the Federal Open Market Committee's actions for other reasons.

Munis underperformed a UST rally, which had everything to do with Powell's speech at the Jackson Hole symposium and future Fed action, said Cooper Howard, a fixed income strategist at Charles Schwab.

KC Mathews, executive vice president and chief market strategist at Commerce Trust breaks down the FOMC meeting.

Trump advisers are impressed with Waller's willingness to move on policy based on forecasting, rather than current data, and his deep knowledge of the Fed system as a whole, the people said.

Miran, if nominated and approved by the Senate, is only expected to serve a term that expires in January, according to the person, who requested anonymity to discuss internal deliberations.

The Minneapolis Fed chief added that tariffs still represent a significant uncertainty and it's unclear what impact they'll have on inflation.