US | FOMC minutes: lots of downside risk to the outlook

The minutes from the July FOMC meeting showed how concerned the Fed is about the economic toll inflicted by the coronavirus pandemic.


What you will learn:

  • The minutes from the
     July FOMC meeting showed just how concerned the Fed was about the economic toll inflicted by the coronavirus pandemic. 
  • The minutes provided no further clues about when the Fed might adopt more explicit forward guidance. 
  • Compared to June, FOMC members devoted much less time at the July meeting discussing other changes to policy implementation.
  • While use of the Fed’s emergency lending facilities has been light, FOMC members viewed their availability as a backstop as important to sustaining market functioning.

Topics: United States, Federal Reserve, Coronavirus, US economy, Macro Highlights, Heavy Industry, North America

FOMC minutes lots of downside risk to the outlook - iPad