What has changed after the US CPI and FOMC? ...Middle East

The May US CPI surprised to the downside yesterday making the market to fully price back in 2 rate cuts by the end of the year and expecting a more dovish Fed. Unfortunatelly, that wasn't the case because the Fed's projections and dot plot surprised on the hawkish side.ProjectionsThe Dot Plot showed just one rate cut for this year compared to two expected by the market going into the decision. They had the chance to revise their projections after seeing the CPI data but decided not to do it. That's curious. Maybe they just wanted to err on the cautious side.The split was also narrow with 7 members pencilling two cuts and 8 going for just one. So, I wouldn't read much into it at this point gi

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