Expectations of something significant are really low.
Here's what Barclays thinks:
The Fed will probably read the GDP report for the second quarter. Participants put aside the input from trade because of policy uncertainty and concentration of attention on final sales of local buyers. The Commission is likely to conclude that incentives will shift to activity.
In August, FOMC comes without a press conference or updated forecast, leaving the statement as the only communication environment. The main message will remain unchanged in the face of significant incentives, improving labor markets, steadily rising inflation and further gradual increases in interest rates remain the most likely outcome.
Two more interest rates are expected to rise from 25 basis points in September and December.
Source: CNBC
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