GM
The Federal Reserve's November meeting minutes have been published, here’s a brief summary of the key points of interest:
Most committee members still believe that a 25 basis point rate cut in December is the appropriate choice.
The assessment of downside risks to the baseline forecast for economic activity has been lowered.
Continue to advance the balance sheet reduction policy.
If inflation levels continue to rise, the pace of rate cuts may be paused.
If the unemployment rate continues to climb or the economy slows significantly, the pace of rate cuts may accelerate.
Regarding the overnight interest rate issue, market attention is low, so this is skipped.
Overall, the content of the meeting was basically in line with market expectations, with no significant surprises. The likelihood of a 25 basis point rate cut in December remains high, so there is no need for excessive concern over Powell's remarks.