FXStreet reports that Morgan Stanley discusses expectations for the Fed's June meeting.

"We expect especially notable near-term upward revisions to inflation projections, while we think the most likely outcome for the dot plot will show an even split among the Committee (9 vs. 9) on rate hikes in 2023. Incoming US economic numbers have been overcoming necessary hurdles, and keeping the FOMC on track for its balance sheet discussions. The data should lead the FOMC to maintain its view that "labor demand remains robust, and labor supply will soon begin to catch up to it."