After reading the minutes of the Fed's November meeting, let me talk about a few points of concern.
1. Most members still believe that a 25 basis point rate cut in December is appropriate.
2. The assessment of the downside risk of the baseline forecast of economic activity has been lowered.
3. It is appropriate to continue to shrink the balance sheet.
4. If inflation continues to increase, interest rate cuts may be suspended.
5. If the unemployment rate continues to rise or the economy slows down, interest rate cuts may be accelerated.
6. People should not be very interested in the overnight interest rate, so I won't say much.
In general, as expected, there is nothing unexpected. A 25 basis point rate cut in December is still the highest probability.
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