FOMC REACTION - CHIEF US ECONOMIST SAYS WHAT??

FOMC react: Ian Shepherdson, Chief U.S. Economist at HFE, says "the
Fed minutes are a bit discouraging to those looking for a June pause,
though they certainly do not guarantee a further hike." He says there
are inflation concerns but the Fed still looks for econ moderation.
"The fact that a 50 basis point hike in May was even discussed
beggars belief, and it suggests now that we need to see a clear
softening in the data if there is to be no hike in June."


HFE expects weak core retail sales and falling home sales to show econ moderation.