FOMC Minutes: Fed Says It'll Be 'Patient' in Raising Rates [TheStreet.com]
Wells Fargo & Company (WFC)
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Source: TheStreet.com
FOMC Minutes: Fed Says It'll Be 'Patient' in Raising Rates Federal Reserve officials in a closed-door discussion last month discussed scaling back a 2017 plan to shrink the central bank's nearly $4 trillion balance sheet, according to meeting minutes released Wednesday. Minutes from the Federal Open Market Committee's Jan. 29-30 meeting showed that the move was proposed by Fed Chairman Jerome Powell. "Following the discussion, the chairman proposed that the committee communicate its intentions regarding monetary policy implementation and its willingness to adjust the details of its balance sheet normalization program," the minutes read. "All participants agreed." The central bankers also said that U.S. economic growth seemed to remain on track, but that the FOMC would be "patient" with raising interest rates to stave off any inflation risks. "Members continued to view sustained expansion of economic activity, strong labor market conditions and inflation near the committee's symmetric
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WFC
Earnings
- 1/12/24 - Miss
WFC
Sec Filings
- 3/26/24 - Form PX14A6G
- 3/25/24 - Form EFFECT
- 3/22/24 - Form 424B2
- WFC's page on the SEC website