Tags: Money | Federal Reserve | minutes

What Are the Fed's Minutes?

By    |   Wednesday, 01 July 2015 07:16 PM

The Federal Reserve Board of Governors' committee minutes track what has occurred during each of the Federal Open Market Committee meetings, according to its website.

These minutes of the FOMC are lengthy and detailed and cite who is present at each meeting and what agenda items have been discussed, among them normalization procedures, reviews of the current economic situation as well as economic outlooks and policy updates. Board votes are also noted.

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Minutes are published by the Fed on its website — three weeks after the meetings occur — and are hotly anticipated by financial analysts and investors. The FOMC’s first three meetings in 2015 were in January, March and late April. Minutes for the April meeting were released on May 20.

Upon the minutes’ release to the public, stocks can quickly be affected as possible direction of the Fed's ongoing policies are revealed, MarketWatch noted.

Some have argued that the minutes are too detailed and can get in the way of important policy debates, CNBC reported. They do not include verbatim quotes from individual policymakers but rather "whether views were expressed by 'some' or 'a few' or 'many' members," CNBC noted in a story published May 21.

Such views, while often vague, are interpreted by traders in anticipation of future monetary policy.

Full transcripts of meetings are not published until five years after the meetings, far too late, say some, in helping to stimulate fiscal policy discussions, CNBC said.

Statements, which are far briefer than the minutes themselves, are released after each meeting summarizing what transpired. They are posted on the Federal Reserve's website for view after each meeting.

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Money-Wire
The Federal Reserve Board of Governors' committee minutes track what has occurred during each of the Federal Open Market Committee meetings, according to its website.
Federal Reserve, minutes
297
2015-16-01
Wednesday, 01 July 2015 07:16 PM
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