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Federal Reserve FOMC minutes due on Wednesday, November 24, 2021

Now that speculation about who will be the chairman of the Federal Reserve for the next four years is over, it’s back to regular programming!

The next item on the Fed’s agenda is the release of the minutes from the November 2-3 meeting.

Via Scotia (short of a longer track):

  • a watchful eye on discussions about when the policy rate will take off. The meeting concluded that the FOMC “is ready to adjust the pace of purchasing if the changing economic outlook warrants it” and therefore awaits a discussion on criteria for doing so. Further discussion is likely at the December meeting.
  • The minutes are unlikely to reveal a new dialogue on broader plans for the balance sheet.
  • There may be limited discussion about when to take off, but here, too, the December reunion and its new dot plot will likely be more revealing.

Apparently, Brainard would have been more of a dove than Powell. Darling. Powell’s middle name is Dovey McDoveface!

A guy with a dove:

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