The Federal Reserve has released the minutes of the November meeting of the Federal Open Market Committee (FOMC), which is at the center of the markets. Fed minutes showed that most respondents agreed on slower rate hikes. After that, gold prices gained some momentum. The cryptocurrency market, on the other hand, showed a cautious reaction. It is possible that the scale of the reactions will change as the details of the minutes emerge.
Fed minutes look dovish, but…
The Fed Minutes for November have been released, providing clues on the Federal Reserve’s marching course and pace. The document showed that most respondents agreed that slower rate hikes would allow the FOMC to better assess progress toward its goals. After the minutes, gold prices rose in the US sessions and hit daily tops. US data for the week saw the FOMC meeting minutes dove slightly on US monetary policy. December gold rallied to $1,745.50, up $5.70 most recently.
Minutes of the last FOMC monetary policy meeting just released showed that FOMC members said it would be appropriate to slow the pace of U.S. interest rate growth soon. However, they are also seeing a higher final Fed funds rate than they previously anticipated. Some Fed officials worried that the Fed might tighten its monetary policy too tight. As always, traders were looking at the minutes to see if they contained any new clues about the future path and timing of Fed monetary policy.
- The Fed said the interest rate peak would be higher than previously expected.
- Uncertain delays, magnitudes cited reasons for Fed slowdown.
- Few respondents indicated that slowing pace would reduce financial risks
- Several officials said it would be advantageous to wait before slowing down.
The news will be updated as details become available. Refresh the page for this.
