A snippet from Scotia on the Federal Open Market Committee minutes released Wednesday:
- Markets largely shook off the minutes
- no material communication shifts
- minutes could be somewhat stale now; there were 7,700 coronavirus cases on January 29th and over 75k now
- Nevertheless, the FOMC reinforced its base case outlook with downside risks and simply repeated prior liquidity management and balance sheet policy guidance
- discussion on inflation targeting alternatives was somewhat unsatisfactory and to be continued later
Good summary yep.