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BREAKING NEWS: The FED's Highly Anticipated Critical Meeting Minutes Have Been Published! Here's Everything You Need to Know!
The meeting minutes containing details about the FED's meeting held on December 17-18, where a 25 basis point reduction was made, have been published.
Here are the most important parts of the meeting minutes published by the FED:
Participants said that if the data is as expected, it would be appropriate to continue to gradually move towards a more neutral policy stance.
Participants said that the FED is at or close to a point where it would be appropriate to slow the pace of easing.
While participants expect inflation to continue to move towards the 2% target, the impact of possible trade and immigration policy changes indicated that this process could take longer than previously expected.
Some participants said that they included "temporary assumptions" regarding possible changes in trade and immigration policies in their estimates.
The vast majority of participants thought it would be appropriate to lower the target range for the policy rate by 25 basis points at the December meeting.
Participants expect labor market conditions to remain strong.
Some participants believed it was necessary to keep interest rates steady at the December meeting, citing the increasing risk of persistently high inflation.
Combining recent data and assumptions about possible policy changes by the new administration, Fed officials expect GDP growth to be slightly lower than the previous baseline forecast, and the unemployment rate to rise “slightly.”
Many participants think caution is warranted “in the coming quarters.”
