The minutes of the US Federal Reserve meeting issued yesterday, Wednesday, July 7, for the meeting held on June 15-16, showed that many members of the US Federal Reserve see the need to ease purchases of the bond purchase program at a faster pace than expected compared to the previous meeting due to positive economic data and that inflation expectations are long The term is still within the Fed’s target.
The report showed that the gross domestic product in the second quarter came at a stronger and faster pace than it was in the first quarter, and that employment levels rose strongly in April and May, as well as the rate of participation in the labor market.
The US Federal Reserve’s minutes raised the market’s expectations that the US Federal Reserve is close to reducing its $120 billion monthly asset purchase program, as expectations indicate that the fourth and last quarter of the year is optimal to begin reducing the program.
The US dollar rose after the minutes, to test its highest level since last April at 92.82 levels, and is trading this Thursday morning with the beginning of the European session at 92.62 levels.
07/11/2024
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