{"id":1529445,"date":"2025-04-09T18:07:27","date_gmt":"2025-04-09T22:07:27","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1529445"},"modified":"2025-04-09T18:07:27","modified_gmt":"2025-04-09T22:07:27","slug":"fomc-minutes-confirm-fed-members-fear-trade-policy-uncertainty-support-qt-taper","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/fomc-minutes-confirm-fed-members-fear-trade-policy-uncertainty-support-qt-taper\/1529445\/","title":{"rendered":"FOMC Minutes Confirm Fed Members Fear Trade Policy “Uncertainty”, Support QT Taper"},"content":{"rendered":"

FOMC Minutes Confirm Fed Members Fear Trade Policy “Uncertainty”, Support QT Taper<\/span><\/p>\n

\n

A lot – and we mean a lot – has happened since the last FOMC meeting on March 19th. Bonds, stocks, and commodites have colppased; gold has made solid gains and the dollar is unchanged as Trump’s ‘Liberation Day’ malarkey smashed the punchbowl…<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/p>\n

Funding markets are starting to break…<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/p>\n

Rate-cut expectations have surged from around 2 cuts to 4-5 cuts this year…<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/p>\n

In the three weeks since the FOMC meeting, hard data has improved significantly while soft data has crashed…<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/p>\n

So, with all that in mind, and having heard multiple Fed speakers since (including the Chair himself) all singing from the same hymn-sheet – ‘lots of uncertainty’… ‘we have time to pause’ etc… we will see what exactly The Fed wanted us to take from the last meeting…<\/p>\n

Key Headlines include (via Newssquawk):<\/p>\n

RATES<\/p>\n

All participants viewed it appropriate to keep interest rates unchanged in light of elevated uncertainty around economic outlook\u00a0<\/strong><\/p>\n

Participants remarked uncertainty about net effect of government policies on the outlook was high, making it appropriate to take a cautious approach<\/p>\n

STANCE<\/p>\n

A majority of participants noted potential for inflationary effects from various factors to be more persistent than they projected\u00a0<\/strong><\/p>\n

Participants assessed fomc was well positioned to wait for more clarity on the outlook<\/p>\n

INFLATION<\/p>\n

Almost all participants viewed risk to inflation as tilted to the upside,<\/strong> risks to employment as tilted to the downside<\/p>\n

Some participants observed fomc may face difficult tradeoffs<\/strong> if inflation proved more persistent while the outlook for growth and employment weakened<\/p>\n

Several participants emphasized that elevated inflation could prove to be more persistent than expected<\/p>\n

BALANCE SHEET<\/p>\n

Almost all participants supported slowing pace of balance sheet runoff;<\/strong> several did not see a compelling case for a slower runoff pace\u00a0<\/p>\n

A few participants cautioned an abrupt repricing of risk in financial markets could exacerbate effects<\/strong> of any negative economic shocks\u00a0<\/p>\n

PROJECTIONS<\/p>\n

Fed staff projection for real GDP growth was weaker than one prepared for January meeting<\/strong><\/p>\n

Read the full FOMC Minutes below:<\/p>\n<\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nWed, 04\/09\/2025 – 14:07<\/span><\/p>\n

\u200bhttps:\/\/www.zerohedge.com\/markets\/fomc-minutes-confirm-fed-members-fear-trade-policy-uncertainty-support-qt-taper<\/a>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

FOMC Minutes Confirm Fed Members Fear Trade Policy “Uncertainty”, Support QT Taper A lot – and we mean a lot – has happened since the…<\/p>\n","protected":false},"author":0,"featured_media":1529446,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1529445","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1529445","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1529445"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1529445\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media\/1529446"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1529445"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1529445"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1529445"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}