Will FOMC Lay Groundwork for a June Rate Hike?

The transcript discusses the Federal Reserve's communication constraints, focusing on the balance of risks in their statements. It highlights changes in rhetoric among Fed members, with traditionally dovish members adopting a tougher stance. The discussion also covers perceptions of meeting status, emphasizing the importance of data dependency and the need for convincing economic data to justify future rate hikes.

Discuss the potential outcomes if the Fed does not acknowledge global and financial risks.

What factors will determine whether the June meeting is considered a 'live meeting'?