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FTN Financial Economic Weekly

Forget About July, But what about September?

US equities are close to an all-time high, and some Fed officials — especially Lacker, George, and Williams — are eager to put Brexit behind them and get back to raising rates. But the internationally focused FOMC is not likely to let it go so easily. European data suggest a chill could settle over the world economy before the end of the year. The IMF is so concerned, it abandoned its 2016 global recovery forecast. The Fed is not going to raise rates a week after the ECB put off its Brexit response until September.

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