Preview of the Federal Reserve's Federal Open Market Committee monetary policy meeting coming up in December
- on December 15 and 16, which admittedly is still a long way off
Westpac provide the preview in the context of :
- the November FOMC minutes gave little away ahead of the December FOMC meeting
But, says WPAC:
- given new restrictions are being imposed on the economy;
- initial jobless claims are now rising;
- and considerable uncertainty remains over the 3-6 month outlook,
the provision of additional support for the economy at the December meeting seems justified, particularly as the FOMC’s inflation and full-employment mandate is a long way from being met, and fiscal policy is absent.