-
FOMC Minutes Preview: Snore
The FOMC kept rates unchanged at 0-0.25%, at the June 9-10 meeting, as was expected; it did not announce any enhanced forward guidance, nor did it announce any yield curve control policy. It did however formalize its QE programme, and will now be buying at a rate of USD 80bln per month of Treasuries (which is in line with the current purchase rate, and the bottom-end of the 80-120bln consensus) and USD 40bln per month of MBS (which was above expected – the street had expected between USD 25-35bln). The Committee's forecasts showed it expects the unemployment rate to end the year at 9.3% (analysts expected ... (full story)