The Federal Open Market Committee released the minutes of its June 15-16 meeting, in which it kept short-term interest rates close to zero, but also said it could adjust its policy otherwise. In the coming months.
The Federal Reserve’s decision-making group has kept its key rate anchored in a range of 0% to 0.25%. It was in line with market expectations.
However, in his post-meeting press conference, Chairman Jerome Powell said committee members had their first discussions on slowing the pace of bond purchases the central bank makes each month. As it stands, the Fed is buying at least $ 80 billion in treasury bills and $ 40 billion in mortgage-backed securities.
In the weeks following the meeting, several officials said they believed it was time to develop a process for how these purchases will be reduced and ultimately eliminated – “decrease” in Fed parlance.
The summary of the meeting was to provide further clues as to the thinking of the committee members on when the reduction could begin.
This is last minute news. Please come back here for updates.
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