U.S. ECONOMICS: FOMC Minutes Preview - Action Economics
The Federal Open Market Committee minutes from the July 29-30 meeting, due for release Wednesday afternoon, are not expected to offer many surprises for financial markets, say analysts.
Action Economics notes the minutes "will be a mixed bag of dovish and hawkish commentary, and will probably be tilted more toward the latter, especially given solid data into the meeting" and Philadelphia's President Charles Plosser's dissent.
Details on the Fed's exit strategies, however, will not likely surface in these minutes, with specifics more likely at the September 16-17 FOMC meeting as it will be accompanied by a press conference and the Summary of Economic Projections ( SEP ) release. Action Economics notes it looks as though Fed officials "have given up the notion of selling securities and have shifted to continuing reinvesting securities even after rate lift-off."
"Don't look for any indication on the exact timing of rate hikes, however, as the economy is still evolving," the research note said.
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