FOMC Minutes: U.S. Economic Risks Have Increased Since July

Posted on 10/09/2019 1:12 PM

The U.S. data point of the day and maybe the week was the Federal Reserve's FOMC minutes released this afternoon. The minutes said the U.S. economy is seeing generally more downside risks since the July Federal Open Market Committee meeting. However, the members said the recent easing of U.S. monetary policy will make for a more positive U.S. economic outlook. Members also said the global economic outlook has deteriorated since July and that geopolitical risks have intensified.

They also saw little concern regarding any problematic wage growth or inflation in the wake of the recent U.S. monetary policy easing that included a 0.25% interest rate reduction last month. The minutes showed FOMC members were divided over the future path of U.S. monetary policy.

Markets showed no significant reactions to the FOMC minutes.

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