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Minutes of the Federal Open Market Committee
Participants resumed their discussion from the April 2021 FOMC meeting of considerations related to the establishment of a domestic standing repurchase agreement (repo) facility (SRF) and a standing Foreign International Monetary Authorities (FIMA) repo facility. Building on discussion at previous meetings, the staff presented considerations for how these facilities might be designed. The design considerations were guided by participants’ general desire to have these facilities play a backstop role in fostering effective implementation of monetary policy and supporting smooth functioning of markets. In April, ... (full story)
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FED MINUTES: PARTICIPANTS HAD OBSERVED DOWNWARD PRESSURE ON MONEY MARKET RATES OVER THE INTERMEETING PERIOD AND VIEWED THE POSSIBILITY OF FURTHER DOWNWARD PRESSURE ON THESE RATES IN THE NEAR TERM AS LIKELY.
— Inara Bright (@InaraBright) July 7, 2021
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FED MINUTES: COMMITTEE'S STANDARD OF "SUBSTANTIAL FURTHER PROGRESS" WAS GENERALLY SEEN AS NOT HAVING YET BEEN MET
— Breaking Market News (@breakingmkts) July 7, 2021
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FED MINUTES: VARIOUS PARTICIPANTS MENTIONED THAT THEY EXPECTED THE CONDITIONS FOR BEGINNING TO REDUCE THE PACE OF ASSET PURCHASES TO BE MET SOMEWHAT EARLIER THAN THEY HAD ANTICIPATED AT PREVIOUS MEETINGS IN LIGHT OF INCOMING DATA
— Inara Bright (@InaraBright) July 7, 2021
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FED MINUTES: IN LIGHT OF HOUSING MARKET VALUE CONCERNS, NUMEROUS PARTICIPANTS PERCEIVED ADVANTAGES IN SLOWING THE RATE OF MORTGAGE-BACKED SECURITIES PURCHASES MORE FAST OR EARLY THAN GOVERNMENT PURCHASES.
— Breaking Market News (@financialjuice) July 7, 2021