Fed Minutes Show Prudence and Fear In The Face Of Uncertainty

The Fed's September meeting minutes were released yesterday and revealed a few interesting points: The Fed anticipated that the August Non-Farm Payroll report would be revised higher The Fed make a specific point to not say that recession pressures are outweighing inflationary ones Some of the Fed's non-voting members are seriously concerned about inflation The Fed minutes show that the Federal Reserve lowered the Fed Funds Rate to 4.750% because there was an inordinate amount of uncertainty in credit markets....

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[Source: The Mortgage Reports Blog]