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.