Financial Times FT.com

Fed to confirm progress with a note of caution

By Valentina Romei and Keith Fray

Published: June 22 2009 03:00 | Last updated: June 22 2009 03:00

Recent cooling in global markets is partly explained by investors' realisation that they might have jumped the gun in translating recent encouraging economic news into expectations for an early recovery from the global recession.

This month's meeting of the Federal Reserve's open market committee, ending on Wednesday, is likely to confirm some progress towards recovery in the world's largest economy, but will also inject a note of caution.

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