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British Defense Secretary Healy: We have eight fighter jets in Qatar.On March 10, Ukrainian President Volodymyr Zelenskyy posted on his official social media platform that the priorities and full attention of Ukraines partner countries are currently focused on the situation in the Middle East, therefore the meeting originally scheduled for this week at the suggestion of the United States has been postponed. Zelenskyy stated that he held a meeting with the Ukrainian negotiating team that day and instructed them to communicate with the US negotiating representatives: firstly, to reaffirm Ukraines willingness to engage in strategic cooperation on security issues, particularly in the defense of drones; and secondly, to reaffirm Ukraines willingness to undertake substantive work to end the Russia-Ukraine conflict.California Governor Newsom: Are Americans who tout "historically low" oil prices but call those worried about a war with Iran driving up prices "fools"? Trump is a liar with no plan, and he is letting the American people down.On March 10th, US President Trump stated that the US does not rule out the possibility of obtaining oil from Iran. Meanwhile, US officials stated that the war "is aimed at stripping Iran of its nuclear weapons and weakening its deterrent so that it no longer poses a threat to the United States or its Middle Eastern neighbors." Trump stated that he did not want to discuss whether he wanted the US to seize Iranian oil, but added, "Of course, people have talked about it." He referred to Venezuela, where the US launched a raid in January to capture its leader, Maduro. Since then, the Trump administration has taken steps to acquire and develop Venezuelas oil reserves. In his State of the Union address last month, Trump stated that the US had obtained more than 80 million barrels of oil from Venezuela. "Look at Venezuela," Trump said, "People have been thinking about it, but its too early to talk about it now."Standard & Poors Global Ratings stated that the Middle East wars have exacerbated the pressure on the European chemical industry.

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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