Investors around the world will eagerly await the minutes of the US Federal Open Market Committee’s (FOMC) most recent policy meeting, which was conducted from January 31 to February 1, 2023, as they will offer insight into the possibility of future rate hikes by the Fed.
The minutes of the FOMC’s February policy meeting will be made public by Federal Reserve authorities on Wednesday (Feb. 22) at 2:00 p.m. EST, or 12:30 a.m. on Feb. 23 in India.
Fears are growing that the Fed may continue raising interest rates for longer than initially anticipated in order to control persistently rising inflation as a result of a streak of positive economic statistics presented in the US.
A resilient economy is depicted by the most recent data on the US growing services PMI for February 2023, which shows business activity in the biggest economy reaching an eight-month high at 50.2 supported by a strong services sector.
Two Fed policymakers had stated last week that such greater adjustments should still be on the table for upcoming decisions and that they saw the need for another rate hike of 50 basis points at the meeting.
“The employment figures aren’t growing worse, and a solid labour market makes it difficult to enter a recession at the same time. That implies that the Fed could press the button to raise interest rates “Longbow Asset Management’s Jake Dollarhide had earlier stated.