Fed Minutes: No Triggers, No Clues, Just Flexibility

by Mike ‘Mish’ Shedlock
The Street

The much awaited Minutes of the the FOMC Meeting of July 28-29 were released at 2:00 PM Eastern on August 19.

Minutes Reveal Cluelessness

As expected in this corner, the 13-page FOMC Minutes reveal nothing we did not already know.

25 Highlights (Emphasis Mine)

1. Probabilities placed on rate hikes next year and in 2022 declined.

2. Total nonfarm payroll employment expanded robustly in June, as it did in May, but the gains in those two months offset only about one-third of the jobs lost in March and April.

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