Page 67 - Fomc News Today

(MENAFN - ING) The FOMC minutes - Leaves the back end unprotected from inflation risks ahead The central tenet from the Feds minutes is no material change in tone still dovish. At the same time the Fed has nodded approval for the December stimulus, and on the likely positives coming from vaccine effects on the economy in due course. The Fed has shown no panic on inflation as of yet, acknowledging the likelihood for a spring jump, but also noting that the economy is far from where it needs to ...

At the interbank forex market, the local unit opened at 72.90 against the greenback and witnessed an intra-day high of 72.72 and a low of 72.92. It finally ended at 72.74 against the American currency.

The municipal secondary gave way to higher-yields and triple-A benchmarks rose two to five basis points. U.S. Treasuries pared back Tuesday's losses, even on the heels of better economic data.

Fed officials also emphasized the importance of "clearly communicating" when it would begin tightening its policy stance, per FOMC minutes.

The reflation trade took a brief pause after a government release on February 10 showed the pace of core consumer-price inflation was 1.4% annually, lower than expected.

USD: FOMC minutes may be the highlight of a slow week

Economist Lisa Cook has the backing of several key White House officials and allies outside the administration as a possible choice for President Joe Biden in filling a vacancy on the Federal Reserve Board of Governors, according to people familiar with the matter.

Federal Reserve Bank of Minneapolis President Neel Kashkari on Monday became the latest central bank official to push back against the idea that the trading frenzy in GameStop Corp. and other hot stocks calls for a monetary policy response.

If stocks move lower, one should look for USD/JPY to continue higher

WASHINGTON—The Federal Reserve warned on Jan. 27 that the U.S. economy is a long way from recovery as the resurgence in COVID-19 has weighed on economic activity and labor market.