Wednesday will bring the FOMC September meeting minutes - preview
The speech from Federal Reserve Chair Powell overnight has diminished the focus on these minutes.
Powell post if you need a catch up:
I posted a quickie preview of the minutes here earlier this week:
Here is Scotia on what they expect:
- Recall that the Fed delivered a hawkish cut at that meeting by guiding that it might be done cutting rates while leaving macro forecasts intact and statement language little changed.
- The criteria and probability of returning with additional easing may be elaborated upon in the minutes. Nevertheless, the minutes may be stale in light of more recent developments that expand upon the list of trade-related risks before year-end.
NAB quickly note:
- Fed minutes will be important, but notably doesn't take into account recent weak US data, including the ISM.