
FOMC Meeting Minutes
The Dollar is rising further after the release of the FOMC minutes. EUR/USD has fallen below 1.3587 to fresh intra-day lows. USD/JPY jumped above 91.00 and currently is testing levels above 91.20.
The Pound trades at the lowest level of the day under 1.5665. USD/CHF is testing the resistance at 1.0800. Greenback has also risen further, but at a moderately pace against commodities currencies.
Several members of the Federal Reserve are impatient about the size of the central bank’s $2 trillion balance sheet and want to start a program of gradual sales in the near future, according to a summary of the Fed’s January closed-door meeting released on Wednesday.
These Fed officials dismissed worries by some of their colleagues that selling assets before the economy was on firmer footing might disrupt markets or damage the recovery.
These officials judged that a predictable manner of assets sales, spread over a number of years “would underscore the Fed’s determination to exit from the period of exceptionally accommodative monetary policy in a manner and at a pace that would keep inflation contained without having large effects on asset prices or market interest rates,” the minutes said.
A few members of the Federal Open Market Committee suggested that the Fed might even have to buy more assets in the future to assist financial markets. They said that the pace of asset sales or purchases could be adjusted depending on economic conditions.
The debate over asset sales highlighted that the Fed is far from unanimous about how to exit from its ultra-low interest rate policy. The Fed’s thinking on the economic outlook was little changed from their last forecast in November.



















