USD: FOMC Minutes Suggest No Policy Adjustments In December Meeting – CIBC


The FOMC minutes were released on Wednesday. Based on the minutes, what can we expect at the Fed’s December policy meeting?

Here is their view, courtesy of eFXdata:

CIBC Research discusses its reaction to [Wednesday’s] FOMC minutes for the November meeting.

“The minutes of the FOMC meeting that followed on the heels of the election and a steady policy stance statement showed that committee members recognized that circumstances could shift to warrant adjustments to the pace and composition of asset purchases in the future, but immediate adjustments were not necessary, likely precluding a change in December,” CIBC notes.

“The importance of another round of fiscal support for the economy was a key topic for discussion, as several participants expressed concern that lower-income households might need to reduce spending dramatically when savings were exhausted, given the lack of additional support,” CIBC adds.

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Kenny Fisher - Senior Writer A native of Toronto, Canada, Kenneth worked for seven years in the marketing and trading departments at Bendix, a foreign exchange company in Toronto. Kenneth is also a lawyer, and has extensive experience as an editor and writer.

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