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The Israeli military stated that it did not prevent rescue teams from reaching the area.The Israeli military has received reports of an attack in southern Lebanon that injured two journalists.April 23 – Pakistani officials remained optimistic on Wednesday that it was still possible to bring the US and Iran back to the negotiating table, despite Irans seizure of two cargo ships in the Strait of Hormuz creating a new obstacle to their efforts to broker a long-term peace. Pakistani Prime Minister Sharif met with the Iranian ambassador on Wednesday. A Pakistani official briefed on the talks said a second round of negotiations could take place in the coming days. Former Pakistani ambassadors to the US and UK, Maleha Lodi, who is familiar with the current diplomatic efforts, said: "The ceasefire has opened up space for the resumption of diplomatic channels, and Pakistan believes that space is sufficient. Neither side has rejected negotiations." Another Pakistani official, briefed on the negotiations and requesting anonymity, said that following the ceasefire extension, Pakistani mediators had received positive signals from Iran expressing a desire to resume face-to-face talks. The official did not elaborate on what these signals were, nor did he say whether Iran had told the Pakistani mediators that the lifting of the US blockade of the Strait of Hormuz was a prerequisite for participating in a second round of negotiations.European Central Bank President Christine Lagarde will speak in ten minutes.According to the Financial Times, the EU is reconsidering its opposition to Arctic oil and gas exploration.

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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