BOSSA.CZ (BOSSA.CZ)
Macroeconomics  |  January 04, 2013 10:26:10

Fed Minutes: FOMC fears its influence excessive pumping money into the U.S. economy


iPoint.cz Yesterday in the evening came the minutes of the Commission meeting U.S. central bank (FOMC). The main theme was the influence of the U.S. central bank (Fed) on the financial markets. Committee members are beginning to worry especially negative impact on the bank's financial markets. You're all too accustomed to throwing money into the U.S. economy. Buying bonds worth $ 85 billion a month that the Fed now done, would like to put an end to the Commission by the end of 2013. Some members were even more radical when he demanded an immediate reduction or termination of the bond purchase.
U.S. Central Bank (FED) four years ago cut interest rates almost to zero and now begins the third round of so-called "kvantitavního easing," which should help the U.S. economy to start packing. growth and reduce high unemployment rate (7.7 percent). In the previous two rounds of "quantitative easing" the Fed spent $ 2.3 trillion for the purchase of securities.
In December, the FOMC announced that the purchase of mortgage bonds for the $ 40 billion adds more buying of government bonds for 45 billion U.S. dollars a month. This step automatically just followed the completion of the operation Twist (FED it bought bonds with later maturity dates from the proceeds of the sale of short-term bonds). FOMC have not set any limit to the new program should take and how much total bond purchases. Conditional purchase only improve the situation on the labor market.It set a target of unemployment at 6 percent.

Eurodollars all day yesterday very symmetrically formed downward channel. The dollar could strengthen significantly against all major currencies. Currently, the price again approached the upper limit of the channel and could continue down the immediate support price is 1.3000. Eurodollar short-term development will be influenced by the NFP reports today and the unemployment rate, which will be announced at 14:30.



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