What the Fed manages to avoid is any reference to the global financial market turmoil witnessed earlier in October. Instead, they noted that, on balance, there had been “a substantial improvement in the outlook for the labor market
A number of participants said growth “might be slower than they expected if foreign economic growth came in weaker than anticipated,” according to minutes of the Sept. 16-17 Federal Open Market Committee meeting released today in Washington.
The credibility of the Federal Reserve appears to be waning as the market refuses to take their threats of pulling away the liquidity punchbowl seriously. On what was, by any objective measure, a spectacularly bad non-farms payroll number on Friday, the S&P 500 futures rallied
Though the vote in favor of last month’s policy statement was a relatively tame 9-1 decision, with hardcore hawk Charles Plosser as the only dissenter, the recently released minutes showed more discord within the committee than the statement let on.