The FED minutes, which are followed by the cryptocurrency market and traditional markets, have been published.
Here are the important quotes we at Bitcoinsistemi.com have compiled from the meeting minutes:
- Some participants said the Fed could pause its accommodative policy and keep the policy rate at a restrictive level if inflation remains high.
- Some participants noted that policy easing could accelerate if the labor market weakens or economic activity stalls.
- The minutes of the Fed’s meeting showed that many participants at the November 6-7 meeting said that uncertainty about the level of the neutral interest rate made it appropriate to gradually reduce policy restrictiveness.
- Participants expect a gradual shift to a more neutral stance.
- Some participants believe that downside risks to the labor market and economy have diminished.
Public comments since the meeting, which generally reflect positions laid out during the two-day negotiations, have shown a broad divide between Fed officials who think monetary policy may already be close to neutral and therefore near a possible stop for further rate cuts, and those who likely see a longer rate cut cycle.
Just a week after the meeting, Powell said the economy was “not sending any signals that we need to rush to lower rates” and that the central bank would “carefully” consider further reductions in borrowing costs.
The minutes of the Federal Reserve meeting provide a detailed account of the Nov. 6-7 session, in which officials grappled with data showing stronger-than-expected economic growth and higher-than-expected inflation. While job growth slowed in October, policymakers had a dominant view that the U.S. economy was continuing to beat expectations.
*This is not investment advice.
