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31FX Blog

What to Expect in the FOMC Minutes

31FX– The Federal Reserve will issue the edited minutes of the October 29-30 Federal Reserve Open Market Committee (FOMC) meeting on Wednesday, November 20th at 19:00 GMT, 14:00 EST

The completion of the Federal Reserve’s “insurance policy”, named by Chairman Jerome Powell, has bought the base rate to 1.50%-1.75%.

The US economy has cooled from its 3.1% annualized growth rate in the first quarter to 2.0% in the second, 1.9% in the third and is tracking at 0.4% in the Atlanta Fed’s GDP.

The October Fed minutes are mostly old news given the recent testimony from Chair Jerome Powell, but they should still provide a more detailed picture of how broad the support was for signalling an extended pause at the October meeting,

Capital Economics wrote in a note Friday.

In conclusion, the FOMC minutes would reveal if this position was a consensus position among the FOMC members or not.

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