BREAKING: Highly Anticipated FED Minutes Announced – Here are All Details

BREAKING: Highly Anticipated FED Minutes Announced – Here are All Details

While the cryptocurrency market was shaken by the developments regarding Binance and its CEO CZ, the minutes of the FOMC meeting were also announced.

Important highlights from the minutes of the FOMC meeting when the agenda is hot are as follows:

  • Everyone at the FOMC agrees to “proceed with caution” on interest rates.
  • Everyone on the FOMC thinks rates will remain restrictive for a while longer.
  • The FED foresees additional tightening if the progress in inflation remains insufficient.
  • All participants at the Fed’s policy meeting held between October 31 and November 1 agreed that the interest rate-setting committee was in a position to proceed cautiously.
  • All participants found it appropriate to keep the target interest rate at 5.25%-5.50%.
  • Most Fed officials saw upside risks to inflation.
  • Many Fed officials saw downside risks to growth.
  • All participants agreed that policy decisions at each meeting would continue to be based on the totality of incoming information.
  • Participants agreed that maintaining a restrictive attitude would support greater progress toward goals while allowing time to gather additional information.

At the October 31-November 1 meeting, the minutes of which were published, the FED decided not to increase interest rates and left interest rates constant.

Powell said at an International Monetary Fund research conference earlier this month:

“Inflation has caused us some confusion. If it becomes appropriate to tighten policy further, we will not hesitate to do so. But we will continue to tread carefully, both against the risk of being misled by a few months of good data and the risk of over-tightening.”

A New York Fed study released on Tuesday, which is the result of a broad general model of the economy, found that the US central bank’s late start to raise interest rates, with the first increase coming a year after prices began to rise sharply, actually allowed the economy to grow further with the same progress in reducing inflation. He claimed that he did.

The delayed start forced the Fed to raise rates faster and at a higher rate than it otherwise would have, but the net effect was “positive

*This is not investment advice.