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On August 23, Rezaei, Secretary of Irans Supreme National Security Council, stated on August 22 that Iran has told the world not to join the United States in waging an economic war against it. Any country that participates in imposing economic restrictions on Iran is considered an enemy. Rezaei stated that the economic war launched by the Trump administration is also a propaganda war. Although Iran has suffered from long-term US sanctions, it has learned how to circumvent them. He stated that the issue of a maritime blockade cannot be resolved overnight; Iran has been under a US maritime blockade for months, yet it has still successfully sold oil. Furthermore, he stated that any US action in the southern waters of the Strait of Hormuz will be a target for Iran, and Iran will crack down on any meetings between the US and any anti-Iranian forces in the region. Regarding the negotiations between Iran and Oman on the Strait of Hormuz, Rezaei pointed out that one of the important discussions is the coordination on the waterway and trade transit issues, and there are currently no problems in the negotiations. The meeting between the two foreign ministers is progressing smoothly, and the negotiations are ongoing. The Strait of Hormuz is crucial to Iran, and Iran will reach a final agreement with Oman.Iranian Foreign Minister Araqchi and Pakistani Army Chief of Staff Munir spoke by phone on Saturday to discuss regional situation and security issues.Iranian Foreign Minister Araqchi spoke with the Egyptian Foreign Minister to discuss the regional situation, the situation in the Persian Gulf and the Red Sea, and diplomatic efforts to ease regional tensions.According to Al Jazeera, Yemeni authorities say they have discovered a Houthi-laid mine in the Bab el-Mandeb Strait.August 23 – Federal Reserve Chairman Warsh will speak at the annual economic conference in Jackson Hole, Wyoming on August 27. Investors expect him to further clarify how the Fed should deal with stubborn inflation, but it remains uncertain whether he will offer a clear statement. The chairmans communication strategy has had a rough start. Following the July policy meeting, Warsh revealed little about his views on the economy and avoided providing forward guidance on interest rates. Investors interpreted his remarks as a lack of resolve to push inflation back to the target level, subsequently pushing long-term bond yields to their highest levels in two decades.

The Devil Is In The Details: Gold Analysis - Federal Reserve Minutes

Larissa Barlow

Apr 07, 2022 10:33

Analyses of Federal Reserve Minutes 

While both the FOMC statement and Chairman Powell's press conference provide market participants with information about the FOMC's updated and revised monetary policy, it is the release of the minutes that provides investors with significantly greater clarity and understanding. The devil, as they say, is in the details.

 

The Federal Reserve issued the official minutes from its March FOMC meeting today, providing insight into the central bank's current plans to begin unwinding its balance sheet assets. Beginning in March 2020, the Federal Reserve will add around $4.6 trillion to its balance sheet by purchasing $120 billion monthly in mortgage-backed securities ($40 billion) and US Treasury securities ($80 billion), bringing their total to just over $9 trillion.

 

According to Federal Reserve Governor Lael Brainard, the Fed intends to employ a mix of interest rate rises and a quick run-off of the balance sheet to bring US monetary policy closer to neutral later this year.

 

However, the minutes released today imply that the Federal Reserve will unwind around $3 trillion over the next three years, reducing its $9 trillion balance sheet to $6 trillion. While the Fed appears to be indicating a quick runoff of its balance sheet, the reality is that the Federal Reserve's balance sheet will be nearly $2 trillion larger than it was prior to the epidemic.

 

"Participants continued their discussion on plans to reduce the size of the Federal Reserve's balance sheet in a manner consistent with the methodology outlined in the Committee's Principles for Reducing the Size of the Federal Reserve's Balance Sheet, announced following its January meeting."

 

Additionally, the minutes stated, "While no decision was made regarding the Committee's plan to reduce the Federal Reserve's balance sheet at this meeting, participants agreed that significant progress had been made on the plan and that the Committee was well positioned to begin the process of reducing the balance sheet's size as soon as after the conclusion of its upcoming May meeting."


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