Sunday, October 28, 2012

FOMC: ‘Several’ Say More ‘Accommodation’ Could Be Necessary

The Dow Industrials continue to be in the red, down a fraction at 12,625.08, after the Federal Reserve Board’s Federal Open Market Committee released its minutes from its meeting on April 24th and 25th, at which meeting “Several members indicated that additional monetary policy accommodation could be necessary if the economic recovery lost momentum or the downside risks to the forecast became great enough.”

That would appear to be a slight increase in the endorsement of �”accommodation” compared to�the March minutes, when the FOMC said, “A couple of members indicated that the initiation of additional stimulus could become necessary if the economy lost momentum or if inflation seemed likely to remain below its mandate- consistent rate of 2 percent over the medium run.”

Overall, however, it appears the statement contains little of note, perhaps a�big yawn for the markets.

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