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Analyst: Fed Meeting Minutes "Outdated," Focus on Powell's Friday Jackson Hole Speech
BlockBeats News, August 21st, The minutes of the Fed's July meeting showed that policymakers' concerns about high inflation outweighed concerns about a slowdown in the labor market, leading to a slight increase in the US dollar. The minutes noted that "most participants judged that the risks to inflation were tilted to the upside relative to the risks to a slowing labor market." The meeting took place before the release of the July US nonfarm payroll data, which showed weaker-than-expected job figures for July.
A Danske Bank analyst stated in a report that this suggests the Fed minutes were "somewhat stale," with a relatively limited market reaction. The current market focus has shifted to Fed Chair Powell's speech on Friday at the Jackson Hole Symposium. (FXStreet)
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