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On February 11, two Democratic governors—Wes Moore of Maryland and Jared Polis of Colorado—announced that they had been removed from invitations to a White House dinner. The dinner was part of the National Governors Associations winter meeting, a bipartisan organization of 50 governors from across the country, originally scheduled to take place in Washington, D.C., from February 19-21. White House Press Secretary Levitt defended the event, stating, "This is the peoples house, and its the presidents house, so he can invite whoever he wants to the White House for dinners and events." The annual governors gathering is a rare bipartisan event in Washington, D.C., but Trumps decision to exclude Democrats from certain events has thrown the meeting into disarray. The National Governors Association stated that it will not assist in holding formal meetings at the presidential residence unless all governors are invited. On Tuesday, 18 Democratic governors also announced they would boycott dinners with Trump.February 11 – A Boeing (BA.N) executive stated at a conference north of Seattle that Boeing plans to increase monthly production of its core 737 family of aircraft to 63 aircraft within the next few years. Katie Ringgold, Boeings 737 program manager, said Tuesday at the Pacific Northwest Airlines Conference that the company has installed tooling to support the new 737 final assembly line in a traditional wide-body aircraft factory and is recruiting mechanics and engineers, preparing to begin production by mid-year. She indicated that production of the narrow-body aircraft should increase by approximately 15% over the next 18 months. Maintaining a steady recovery in 737 production is crucial for Boeing to turn around its financial situation and repay its debts; the aircraft is a key source of revenue for Boeing.Sources say Total Energy has acquired 100% ownership of the Zeeland refinery, which was previously co-owned by Russias Lukoil.According to Punchbowl: U.S. Treasury Secretary Bessent has postponed his meeting with Republican finance lawmakers.Boeing executives: Boeing 737 MAX suppliers should prepare for a 15% rate increase within the next 18 months.

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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