"All participants supported enhancing the Committee's guidance on asset purchases at this meeting...adopting qualitative, outcome-based guidance." So why didn't they do it? And why mention the dreaded word "tapering"?
FOMC Minutes
FOMC Minutes
Wednesday, November 25, 2020
Seems the Committee knew that Mnuchin would take the lending punchbowl away. Do discussion centered on amping up asset purchases, and offering outcome-based forward guidance "fairly soon."
FOMC Minutes
Wednesday, October 7, 2020
FOMC participants agreed it was important to express resolve about the new average inflation targeting approach. Then they didn't do it.
FOMC Minutes
Wednesday, August 19, 2020
How very discreet. Amidst a broad discussion of all the risk factors hold back business spending, the word "election" isn't mentioned even once.
FOMC Minutes
Wednesday, July 1, 2020
The FOMC wants to provide more policy clarity, but first they need clarity on where the economy is going. Details, details. In the meantime, in staff discussion, seems like "yield curve control" isn't seen as worth the risks.
FOMC Minutes
Wednesday, May 20, 2020
The FOMC managed to find one bright spot amidst the devastation of the Covid-2019 crisis: its own stellar performance. Congress, on the other hand, could do more...
FOMC Minutes
Wednesday, April 8, 2020
The FOMC portrays itself -- probably faithfully -- as having gotten its head around the virus crisis in a timely and effective manner. Congrats.
FOMC Minutes
Wednesday, February 19, 2020
The FOMC reviews the effects of policy on financial stability and decides to do -- wait for it -- nothing. The FOMC reviews revising its inflation target and decides to do -- wait for it -- nothing.
FOMC Minutes
Friday, January 3, 2020
Let's get this straight. We can take the language about "uncertainty" out of the FOMC statement because we're really leaving it in.
FOMC Minutes
Wednesday, November 20, 2019
The FOMC scrambles to address the repo crisis, but comes to no decision about a permanent facility.