US FOMC Meeting Minutes

Bad news' - a record downward revision in payrolls - combined with a strongly 'dovish' bias to the FOMC Minutes sent rate-cut expectations soaring today... chart ...dominated by 2024 dovishness - dramatically more than The Fed's single-cut expectation... chart ..and that sparked a buying-panic in bonds, bitcoin, stocks, and gold (but the dollar and crude tumbled). Stocks and bonds are (arguably) disagreeing... chart Stocks initially surged on the BLS bad news and Dovish Fed, but some reality started to set in again that 'growth ...

Most Federal Reserve officials agreed last month that they would likely cut their benchmark interest rate at their next meeting in September as long as inflation continued to cool. The minutes of the Fed’s July 30-31 meeting, released Wednesday, said the “vast majority” of policymakers “observed that, if the data continued to come in about as expected, it would likely be appropriate to ease policy at the next meeting.” In July, the policymakers kept their benchmark rate at 5.3%, a near-quarter-century high, where it’s stood for more ...

Federal Reserve officials at their July meeting moved closer to a long-awaited interest rate reduction, stopping short while indicating that a September cut had grown increasingly probable, minutes released Wednesday showed. “The vast majority” of participants at the July 30-31 meeting “observed that, if the data continued to come in about as expected, it would likely be appropriate to ease policy at the next meeting,” the summary stated. Markets are fully pricing in a September cut, which would be the first since the emergency ...

While the focus is now on September for the start of Federal Reserve interest rate cuts, at least some U.S. central bankers were keen to get the debate about it rolling at last month's policy meeting. Roughly how many were in that camp and how unified the remaining policymakers were in seeing the Fed's Sept. 17-18 meeting as a preferred starting point for reducing borrowing costs should become clear when the minutes of the July 30-31 meeting are released on Wednesday. The central bank's policy-setting Federal Open Market Committee ...

As debate heats up on Wall Street over when the Federal Reserve will complete its current course of quantitative tightening, strategists are looking for more guidance on Wednesday when the US central bank releases the minutes of its latest policy meeting. While most market-watchers are forecasting an end to the balance-sheet unwind sometime late this year, the exact timing is far from certain. That’s drawing attention to minutes from the July gathering, which may also be offer clues on the path of interest rates. Over the past week, ...

The S&P 500 ($SPX) (SPY) had a phenomenal week last week ending up 4.00%. This week is a lot quieter on both the news and earnings front until the end of the week. FOMC Meeting Minutes, the Jackson Hole symposium, PMI, and some bigger earnings are released in the back half of the week. Here are 5 things to watch this week in the Market. Earnings Earnings are pretty slim this week with some larger names coming in on Wednesday and Thursday. TJX Holdings (TJX), which manages TJ Max and Homegoods is one of those reporting Wednesday. In ...

Economic data in the August 19 week will take a backseat to the Kansas City Fed’s annual Jackson Hole (August 22-24) which will be brimming with central bankers and offering an opportunity to gauge the outlook for less restrictive monetary policy. In particular, Fed Chair Jerome Powell is likely to send a message to markets that anticipation of a rate cut in September is justified, absent unexpected developments. His speech is scheduled for 10:00 ET on Friday. There is also the Democratic National Convention in Chicago which will run ...