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MNI FOMC Minutes Preview: November 2024

The minutes to the November FOMC meeting will be viewed in light of the hawkish tilt in participants' commentary.
USCentral Bank NewsFederal ReserveMarketsStoryNorth America

MNI (NEW YORK) - Executive Summary

  • The minutes to the November FOMC meeting (released Tuesday at 1400ET) will be viewed in light of the hawkish tilt in Fed officials’ commentary in the 3 weeks since they decided to cut rates by 25bp.
  • Accordingly, MNI’s Hawk-Dove Spectrum has  been moved upward (in a more “hawkish” direction”) across the board.
  • Most focus in the minutes will be on any discussion about the Committee’s thinking about a December cut, including whether (or not) the conveyed tone implies a high bar to holding rates.
  • It’s possible that the discussion had already started to turn toward when and to what degree to slow the pace of cuts.
  • Also of note would be any discussion of the rise in longer-term rates and/or QT.
  • MNI's preview of the Minutes includes what to watch for upon release; MNI's FOMC Hawk-Dove Spectrum; and key highlights of FOMC participant commentary since the November meeting.

FOR THE FULL PUBLICATION PLEASE USE THE FOLLOWING LINK:

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MNI (NEW YORK) - Executive Summary

  • The minutes to the November FOMC meeting (released Tuesday at 1400ET) will be viewed in light of the hawkish tilt in Fed officials’ commentary in the 3 weeks since they decided to cut rates by 25bp.
  • Accordingly, MNI’s Hawk-Dove Spectrum has  been moved upward (in a more “hawkish” direction”) across the board.
  • Most focus in the minutes will be on any discussion about the Committee’s thinking about a December cut, including whether (or not) the conveyed tone implies a high bar to holding rates.
  • It’s possible that the discussion had already started to turn toward when and to what degree to slow the pace of cuts.
  • Also of note would be any discussion of the rise in longer-term rates and/or QT.
  • MNI's preview of the Minutes includes what to watch for upon release; MNI's FOMC Hawk-Dove Spectrum; and key highlights of FOMC participant commentary since the November meeting.

FOR THE FULL PUBLICATION PLEASE USE THE FOLLOWING LINK:

Keep reading...Show less