Last Week in Review: Minutes Revealed
The highlight of this past week was the Fed Minutes from the January Fed Meeting. The Minutes are a detailed record of the Fed's monetary policy setting meeting, so the markets gain insight into the psyche of the Fed as it relates to interest rates, the economy and more.
What the markets heard loud and clear from the meeting Minutes was Patience -- meaning, the Fed is in no rush to hike interest rates and they will watch the incoming economic data to determine when they might hike again. There is now a low probability for another hike in 2019.
What are the most important reports the Fed is watching which can influence rates?
In response to the Minutes, mortgage bond prices and thus home loan rates are hovering near the best levels in a year.
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