The S&P 500 is down 0.97% and the Nasdaq down 2.17%, both sliding further after the report's release of FOMC which see 0.5 hike until 4 May. Inflationary Risks have grown greatly because of Ukraine War and Shanghai lockdowns'
"Many participants noted that one or more 50 basis point increases in the target range could be appropriate at future meetings, particularly if inflation pressures remained elevated or intensified"
Some conclusions after March Meeting:
- Participants agreed Fed was ell placed to begin balance sheet reduction as early as the May FOMC meeting
- All participants underscored the need to remain attentive to the risks of further inflation
- 'Many' participants noted they would have preferred a 50 bps hike
- Many noted that one or more 509 bps increases in the target range could be appropriate at future meetings, particularly if inflation pressure s remained
- Participants noted that -- depending on developments -- a move to tighter policy stance could be warranted
- Participants generally agreed that after balance sheet runoff well underway, would be appropriate to consider sales of MBS
- Participants generally agreed to monthly caps of about $60B for Treasury securities and $35B for MBS
If you want to read all monetary policy's please click https://www.federalreserve.gov/monetarypolicy/fomcminutes20220316.htm
More comments from treasury sec Yellen about economy and Russia Sanctions:
- US economy enjoying strongest job market in decades
- Americans financial conditions overall are very strong
- People are concerned about inflation and that's understandable
- Inflation erodes ability of households to make purchases
- Russian economy is reeling from sanctions
- We are put in place sanctions every weekend I do believe they are working
- It could see sky rocketing prices for oil and gas from a complete Russian export ban
