FOMC Meeting Minutes
Event Date: Wednesday, July 7, 2021
Event Time: 18:00 CET
Updated Tuesday, July 6, 2021
The Federal Reserve increased interest rates in December, which was the fourth rate hike that year, and again in March this year, while the global economy was slowing. Donald Trump kept cursing at them for doing so and it seems like he was right. The US economy has slowed considerably recently and the FED has turned dovish now, cutting rates three times in the previous three meetings. They are done with rate cuts now. But, the focus now is to see if they are more prone to start cutting interest rates again in the future or if they will start hiking them. Besides, the coronavirus has made things more complicated now, with the FED and the US government throwing trillions of Dollars at the economy. But the market is wandering when the cash tap will be turned off and Jerome Powell satisfied some of those quests as he mentioned rate hikes at some point. So that's what will be interesting to see from these FOMC minutes, especially after the FED sounded a bit more relaxed in the last meeting. Please follow us for live coverage of this event by live market analysts.
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About FOMC Meeting Minutes
The Federal Open Market Committee (FOMC) is the policy-making body of the U.S. Federal Reserve System (FED). It is scheduled to meet five to eight times annually, with the intent of addressing the current state of the U.S. economy. Decisions are made regarding the management of the USD, including interest rate adjustments and the purchase/sale of U.S. government debt.The FOMC Meeting Minutes are a written record of the presentations and discussions of the previous FOMC meeting. They are released to the public three weeks after each scheduled meeting. Included are summaries of policy decisions, economic forecasts, and dissenting opinions of the FOMC members.FOMC minutes give active traders and investors valuable insights into the inner workings of the FED. The minutes often allude to coming policy decisions as well as the overall tone of the committee. Markets are capable of reacting unpredictably to surprise disclosures in the release, specifically USD valuations.