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Core tip: On Thursday, Beijing time (February 23), the Federal Reserve released the minutes of its February monetary policy meeting. The minutes showed that most members believed that if the economy was on track, it would be appropriate to raise interest rates relatively quickly.
Extended reading:
- FED meeting minutes: Most Fed officials believe that interest rates will be raised “fairly soon”
On Thursday, February 23, Beijing time, the Federal Reserve announced its February monetary policy meeting summary.
The minutes show that most members believe that if the economy is on track, it is appropriate to raise interest rates relatively quickly.
The minutes stated that the Federal Reserve will begin to discuss reducing its balance sheet at future meetings; the FOMC will release a chart on uncertainty expectations in the March meeting minutes.
The minutes show that some Fed officials believe that even if the government policy is unclear, the short-term risks to the economy are roughly balanced; some members believe that potential policies will bring downside risks, and upward risks include fiscal stimulus.
The minutes show that many voting committee members believe that even if inflationary pressure occurs, the government will have enough time to respond; many committee members believe that there is only a low risk of serious inflation.
The minutes also show that most Fed officials believe that there is a high risk of undershooting the unemployment rate; further strengthening of the U.S. dollar will bring downside risks to the economy.
