FOMC minutes: Pace of contraction is slowing, but economic activity to remain weak for a time....
FOMC minutes: Pace of contraction is slowing, but economic activity to remain weak for a time. Fed expects exceptionally low levels of federal funds rate for an extended period. Higher unemployment forecast, and the board is wary of buying more Treasurys.
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Comments (2)
It's hardly as though they are going to report than when discussing the outlook for the housing market, one member starting sobbing quietly, while another asked if he could "be excused" as he "needed to use the restroom urgently", but they should just carry on without him...
Disregard the FOMC minutes. It is useless in determining the genuine state of the economy. Particularly when the minutes refer to the past.