FOMC minutes fail to map out direction
Thursday 20th August 2020There’s no doubt about it, there was disappointment from investors after the minutes of the recent FOMC meeting were released. There was hope that there would be some indication of how the committee would be arriving at a forward guidance for Fed strategy, but nothing. As NAB’s David de Garis says, Jerome Powell had suggested that their strategic review – that was interrupted by the COVID-19 outbreak - was well advanced and details would be released soon. Clearly not this soon, and equities fell back a little on the lack of new news. There’s a clearer picture on the…
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