The minutes of the August 11 and 12 FOMC meeting shows a Fed that is slowly growing more confident in things, yet the conviction is low. The FOMC was more confident that the recession is ending and that growth will resume in the second half of the year after recent policy moves. It also noted seeing a benefit in tapering off MBS purchases and that they have cooled to expanding TALF assets. The notion of growth is muted as FOMC officials expect a slow recovery and noted that households face significant headwinds. The governors also see the economy vulnerable to shocks as jobs are still weak. There was a note of concern over future bank losses, but so far there is no major concern that inflation is about to roar.
So far there is very little market impact here. FULL MINUTES are here.
JON C. OGG
Sponsored: Want to Retire Early? Here’s a Great First Step
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
