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2008 Economic Calendar |
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Resource Center » U.S. & Intl Recaps | Release Dates | Why Investors Care | Today's Calendar
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On December 14, 2004, the Federal Open Market Committee announced that they would release the minutes of each meeting with a three week lag. This is a vast improvement from the previous release of the minutes which ranged from a six to eight week lag. While the FOMC releases a statement after each meeting which describes the policy action (or inaction), the minutes generate a lot of attention in the financial markets because they reveal more details on the discussion of the most recent FOMC meeting. Why Investors Care
Highlights
Federal Reserve policy makers were a bit worried about inflation at the FOMC's August 9 meeting, saying the trend for the core PCE deflator, pressured by strong demand and indirectly pressured by high energy prices, is at the high end of its desired range. Still, policy makers agreed that the pass-through of higher costs has been limited.
On the housing front, highlighted by last week's warning from Alan Greenspan of an eventual cooling, policy makers see slowing price gains ahead.
The minutes, as usual, are no surprise. Fed policy makers will continue to raise their overnight target by 25-basis-point increments with no end in sight.
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