After reading the minutes of the Federal Reserve's November meeting, let me mention a few points that everyone is concerned about.
1. Most members still believe that a 25 basis point rate cut in December is appropriate.
2. The assessment of the downside risks to the baseline forecast for economic activity has been lowered.
3. Continuing to reduce the balance sheet is appropriate.
4. If inflation continues to rise, it may pause rate cuts.
5. If the unemployment rate continues to rise or the economy slows down, it may accelerate rate cuts.
6. The overnight interest rate issue is probably not of much interest to everyone, so I won't say much about it.
Overall, it is in line with expectations, and there is nothing surprising; a 25 basis point rate cut in December remains the most likely scenario.
