Markets Show Little Reaction to Latest FOMC Minutes

Posted on 02/20/2019 1:55 PM

The U.S. economic data point of the day was the Federal Reserve's Open Market Committee (FOMC) meeting minutes. The minutes expressed some more concern regarding risks to U.S. economic growth, which the Fed says has moderated in recent months. The Fed sees few risks in leaving U.S. monetary policy steady, at present.

The minutes also said the Fed will exercise "patience" on future interest rate hikes, adding the FOMC will also continue to be data-dependent. FOMC members want to see the unwinding of the big Fed balance sheet of securities stop later this year.

Markets showed no significant price reactions to the early-afternoon report.

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