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FOMC Meeting Minutes ! 🗓️🚨
There is a lot of confusion when I talk to people about FOMC Minutes. So I hope the following will make most of you understand it.
What is it?
The Federal Open Market Committee (FOMC) releases minutes for each of its meetings, which occur eight times a year, typically three weeks after the meeting. These minutes provide a detailed summary of the discussions, including views on economic conditions, monetary policy, and risks. However, economic projections—such as forecasts for GDP, inflation, unemployment, and interest rates—are only included in the Summary of Economic Projections (SEP), which is released quarterly, alongside four of the eight annual FOMC meetings (usually March, June, September, and December).
So, half of these include SEP and half do not. The impact on the market is considerable higher for the minutes that do come with SEP.
The SEP includes projections from FOMC participants, often presented in the “dot plot” showing individual members’ expectations for future interest rates, along with forecasts for key economic indicators. The other four FOMC meetings (typically January, April, July, and October) do not include the SEP, so their minutes focus solely on the discussion and rationale for policy decisions without new economic projections.
Today's minutes, are for the meeting in July, so they will not include SEP. This lowers their impact on the market.
Also keep in mind how and what was the last meeting about. Everybody was waiting on JP to talk about a rate cut, but he didn't, mostly because of his personal beef with Trump. Other Fed members pointed at September as being a good month to start cutting. So during their meeting we can speculate that there was talk about a rate cut. JP might of forgot to address this, on purpose.
Considering the above and the fact that 3 weeks ago there was no high PPI, this report could be bullish ! 📈
If you read so far and find this information useful, please share it and like it so I know it is appreciate it and it helps others receive it.
Thank you for your attention to this matter, as DJT would say 🤣
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