The Fed’s minutes from the last November meeting of the US central bank, where it cut interest rates by 25 basis points, have just been released. Below is a transcript of the most important comments made during the decision:
- Minutes show broad support for “gradually” lowering rates – slightly hawkish
- Many Officials Saw Lower Risk of Labor-Market Downturn Than in September
- Businesses Becoming More Selective in Hiring
- Many Officials Noted ‘Uncertainties’ Around Neutral Interest Rate
- Officials Discussed Lowering Overnight Reverse-Repurchase Rate to Bottom of Fed Funds Range
EURUSD is rising after the release of the Fed minutes. The most important conclusion is that we are approaching a time when the scale and, more importantly, the frequency of interest rate cuts will be lower. Source: xStation
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