The Fed will release the minutes of the January policy meetingon Wednesday. Jerome Powell and co’s discussions surrounding the policy pivot will be scrutinized. The US Dollar has been outperforming its major rivals since the beginning of the year. The Federal Reserve will release the minutes of the January policy meeting on Wednesday. Investors will pay close attention to comments regarding the inflation outlook and the possible timing of a policy pivot.
's change of tone between the December and January meetings portrayed a Committee that has welcomed the progress made on inflation, but that would prefer to see further confirmation amid strong activity data,” TD Securities analysts said in a note. “The minutes are likely to unveil further color regarding those discussions, as well as talks around QT tapering.” When will
Minutes feed into expectations for a delay in the policy pivot until June. On the other hand, the USD could come under renewed selling pressure if the publication shows that policymakers are willing to consider a rate reduction by May. However, policymakers’ comments in the minutes are likely to be outdated due to the fact that the meeting took place before the latest inflation and employment data releases. Hence, the market reaction could remain short-lived.
stands for The Federal Open Market Committee that organizes 8 meetings in a year and reviews economic and financial conditions, determines the appropriate stance of monetary policy and assesses the risks to its long-run goals of price stability and sustainable economic growth.
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