The Minutes of the Federal Reserve’s January meeting are set for release at 2:00 pm ET.
The Minutes will be closely parsed for any clues about how the Fed sees the current economic situation, particularly how the drop in the price of oil and the strong dollar are impacting the inflation outlook and earnings for US-based companies.
This meeting happened before the January jobs report, which showed nonfarm payrolls grew by more than 200,000 for the 12th straight month, and so we won’t get updated language on how the Fed sees the labour market following that report.
In its January policy statement, the Fed opted to keep the term “patient” when describing how long it would wait to raise interest rates in its last statement, and Wednesday’s Minutes will be reviewed for any clues on the debate surrounding the inclusion of this phrase.
We’ll be back with full coverage when the Minutes drop.