Minutes of the Federal Open Market Committee December 13-14, 2022
The manager pro tem turned first to a discussion of developments in financial markets. Following several months of tightening, financial conditions eased over the period as investor concerns about global risks edged lower and incoming data showed nascent signs of a moderation in inflationary pressures. Central bank communications signaling a slower pace of policy rate increases appeared to contribute to improved sentiment. Measures of implied volatility across financial markets declined somewhat from the elevated levels observed in October. Consistent with the decline in volatility, model-based measures suggested ... (full story)
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[DB] Fed Minutes: Participants Welcomed Inflation Drops in October and November, but Concurred It Would Take 'Substantially More Evidence' of Progress to Be Confident of a Sustained Downward Path: RTRS— db (@tier10k) January 4, 2023
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FED OFFICIALS CITED RISK INFLATION COULD BE MORE PERSISTENT— Breaking Market News (@breakingmkts) January 4, 2023
A COUPLE OF FED OFFICIALS SAW INFLATION RISKS AS MORE BALANCED
FED WARY OF AN `UNWARRANTED' EASING IN FINANCIAL CONDITIONS
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FOMC Minutes: Officials Said Further Rate Increases Would Be Necessary --WSJ— *Walter Bloomberg (@DeItaone) January 4, 2023
FOMC Minutes: Officials Agreed Rate Cuts Shouldn't Happen in 2023 --WSJ
FOMC Minutes: Officials Emphasized Need for 'Flexibility and Optionality' in Policy Decisions --WSJ
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tweet at 2:04pm: #FOMC Minutes: Several Officials Noted Dot Plot Tracking ‘Notably Above Market’ - Officials Cited Risk Inflation Could Be ‘Modestly Persistent’ - A Couple Of Officials Saw Inflation Risks As More Balanced https://t.co/sMirTwroln tweet at 2:04pm: FOMC Minutes: Risk of Inflation Accelerating Faster Than Anticipated 'Key Factor' in Shaping Policy --WSJ FOMC Minutes: Staff Economic Forecast Not as Weak as at November Meeting --WSJ tweet at 2:05pm: The FOMC minutes provide next to no discussion around how much officials want to raise rates at the February meeting. But officials did shout out their concern that an "unwarranted easing in financial conditions" could "complicate" their inflation fight https://t.co/Xv0f0qaxK5 https://t.co/aQd5UbOt7n
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