Wednesday afternoon's minutes from the last meeting of the Federal Reserve's Open Market Committee (FOMC) showed that members believe current U.S. monetary policy is well calibrated and the U.S. economic outlook is generally positive following last month's 25 basis point interest rate cut.
However, the FOMC minutes said members are still concerned about slowing global economic growth negatively impacting the U.S. economy. U.S./China trade tensions have eased, the FOMC believed at the time. However, developments in recent days on that matter may now contradict those notions.
FOMC members again mentioned very low global inflation rates that could pose risks to world economies.
Markets reacted very little to today's FOMC minutes that contained no surprises.