{"id":87010,"date":"2023-11-21T07:49:57","date_gmt":"2023-11-21T12:49:57","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/fed-minutes-are-coming-tuesday-what-to-expect\/"},"modified":"2023-11-21T07:49:59","modified_gmt":"2023-11-21T12:49:59","slug":"fed-minutes-are-coming-tuesday-what-to-expect","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=87010","title":{"rendered":"Fed Minutes Are Coming Tuesday. What to Expect."},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-BAR-0000805366\">\n<div data-layout=\"wrap\n              \" data-layout-mobile=\"\" class=\"\n        media-object\n        type-InsetMediaIllustration\n          wrap\n  article__inset\n        article__inset--type-InsetMediaIllustration\n          article__inset--wrap\n    article__inset--lead\n  \"><\/p>\n<p>        <!-- eventually when we know what this card will be we can change it and leave this one --><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        img-wrap\n        article__inset__image\n      \" itemscope=\"\" itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<\/figure><\/div>\n<p>Investors are getting minutes from the Federal Reserve\u2019s latest meeting a day early this week because of the Thanksgiving holiday.\u00a0<\/p>\n<p>The minutes will be released Tuesday and are expected to provide insight on what the Federal Open Market Committee prioritized as it weighed whether to hold the benchmark rate steady during its Oct. 31-Nov. 1 meeting.<\/p>\n<div class=\"paywall\">\n<p>Fed policy makers chose to keep the target for the federal-funds rate at 5.25-5.50%, after last increasing it in July.\u00a0 <\/p>\n<p>At the postmeeting press conference, Chair Jerome Powell said officials weren\u2019t yet satisfied with the progress made on inflation and that monetary policy might not be restrictive enough. He also noted policy makers were watching rising bond yields, which contributed to tighter financial conditions earlier this fall.<\/p>\n<p>\u201cGiven how far we have come along with the uncertainties and risks we face, the committee is proceeding carefully,\u201d Powell noted.<\/p>\n<p>The latest round of economic data released this month has left investors optimistic the central bank\u2019s policies are working. <\/p>\n<p>In October, the labor market underwent a marked softening. The economy had a significantly slower pace of job creation, as well as cooling wage growth and an uptick in the unemployment rate to 3.9%.<\/p>\n<p>The latest consumer price index also proved weaker, with falling gasoline prices slowing the pace of price growth in October. Inflation climbed 3.2% year over year in October\u2014a slower pace than the 3.7% rate recorded in September and August and coming in below expectations, according to data released by the Bureau of Labor Statistics on Nov. 14.<\/p>\n<p>As inflation falls, the so-called real rate will grow more restrictive even if officials decline to hike again, dampening economic momentum. Markets cheered and the<br \/>\n        S&amp;P 500<br \/>\n       currently sits right below 20% for the year. <\/p>\n<p>\u201cThe market view seemed to declare inflation conquered, serving up one of the best days of the year,\u201d writes Marc Dizard, chief investment strategist of PNC Asset Management Group. <\/p>\n<p>He notes the stock rally last week, and arguably the overall upswing since Nov. 1 has been due, in large part, to the market declaring victory. <\/p>\n<p>\u201cOur response to that would still be a large\u2026maybe,\u201d Dizard says.\u00a0<\/p>\n<p>Central bank policy makers have also maintained a cautious outlook on economic data, highlighting how much uncertainty remains. They noted in recent remarks it is too early to declare mission accomplished and reiterated there could be further tightening if merited by economic data.\u00a0<\/p>\n<p>But officials also have acknowledged rising headwinds due to restrictive policy they see both in the U.S. and globally. Fed Gov. Lisa Cook, for one, noted last week she was carefully watching lower-income households for potential early signs of financial strain, as well as small businesses and the housing sector.\u00a0<\/p>\n<p>And despite the tough talk, most investors believe the central bank is poised to hold interest rates steady for the foreseeable future. Investors on Monday were pricing in a 0% chance of a hike at the December meeting and only 2.1% chance in January, according to the CME FedWatch tool.<\/p>\n<p>\u201cRecent signs of softer inflation and consumer demand suggest the Federal Reserve is well positioned to remain on hold at the December policy meeting,\u201d writes EY Chief Economist Gregory Daco. <\/p>\n<p>Daco believes the Fed\u2019s tightening cycle is likely complete and \u201cwhile Fed policy makers won\u2019t pre-announce it, \u2018policy recalibration\u2019 will be on their New Year\u2019s resolution list.\u201d\u00a0<\/p>\n<p>The FOMC minutes will be released at 2 p.m. <\/p>\n<p>Write to Megan Leonhardt at megan.leonhardt@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/articles\/fed-meeting-minutes-release-today-5c8a7acf?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Investors are getting minutes from the Federal Reserve\u2019s latest meeting a day early this week because of the Thanksgiving holiday.\u00a0 The minutes will be released Tuesday and are expected to provide insight on what the Federal Open Market Committee prioritized as it weighed whether to hold the benchmark rate steady during its Oct. 31-Nov. 1 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":87012,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-87010","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Fed Minutes Are Coming Tuesday. 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