The FOMC minutes to the April 27-28 policy meeting are due today. There were no surprises in the outcome where rates and QE were left unchanged and the Fed continued to stress officials are not even thinking about thinking about tapering asset purchases. Chair Powell reiterated ad nauseum that the Fed won’t start to taper until “substantial further progress” is made on the employment and inflation goals. Of note, the meeting was obviously conducted before recent data was released showing the spike in prices but weakness in job gains, though they will certainly spark debate at the upcoming June 15-16 FOMC.
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Andria Pichidi
Market Analyst
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