BREAKING: Dolar dips after 'Fed minutes'!

Fed minutes reading published at 7:00 PM BST time:

Policy Rate:

• Several participants believe the policy rate is at/near its peak.
• Focus should be on the duration of restrictive rates rather than how high they might rise.

Inflation:

• Inflation deemed unacceptably high by participants.
• More evidence required to be confident about decreasing price pressures.
• Most participants saw increased risks to inflation.

Economic Situation: The Committee discussed the current economic situation, noting improvements in various sectors.

• Labor Market: Continued strengthening with increased employment rates.
• Household Spending: Showed resilience and was supported by rising incomes.
• Business Investments: Remained robust.
• Inflation: Moderated but remained above the Committee's longer-run objective.

Economic Risks:

• Risks identified include the prolonged effects of financial tightening, union strikes, slowing global growth, and continued weakness in commercial real estate.
• The majority of participants found the future economic path highly uncertain.
• Many noted continued risks to economic activity and potential increases in the unemployment rate.

Financial Market Developments: The Committee reviewed financial market conditions. They observed that asset valuations were somewhat elevated, reflecting investors' risk appetite.

International Developments: Global economic prospects improved, but uncertainties remained, especially in some emerging market economies.

Source: xStation 5