FOMC Minutes Dissected

April 5th, 2017 10:38 pm | by John Jansen |

Via Stephen Stanley at Amherst Pierpont Securities:

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  1. One Response to “FOMC Minutes Dissected”

  2. By Pat Fans on Apr 6, 2017 | Reply

    Dudley, the head of the NY Fed who is in charge of Open Market operations explicitly said that when they start to wind down the balance sheet(DEC17) that this will take the place of a rate hike due to its tightening affect and could pause rate hikes for a while. The bond market has started pricing in this pause if you look at the Eurodollar curve. So I’m not sure how you can say that ending reinvestments will not change the Fed Funds rate path.

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