Miercoles 11/07/12 Minutas del Fed

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No hay indicaciones de que el Fed actuara, el mercado molesto.

Au down 1,568

-76.71

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-98

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El Fed dividido

Algunos miembros sugieren mas estimulo para mejorar el mercado laboral, mientras otros piensan que solo se justificaria si la recuperacion (cual) de la economia pierde momentum o si la inflacion baja mas.

Solo pocos miembros favorecen mas accion.

Fed Minutes Show Divisions


By KRISTINA PETERSON And MICHAEL CRITTENDEN
Some Federal Reserve officials thought in June that the central bank would likely need to take more action to help the jobs market, while others thought that would only be justified if the economic recovery loses momentum or inflation drops, according to minutes of the Fed's last meeting released Wednesday.

Fed officials at their June 19-20 meeting seemed split over whether and when the central bank should launch another major stimulus program. "A few members" thought "further policy stimulus likely would be necessary to promote satisfactory growth in employment and to ensure that the inflation rate" stays on target, according to minutes, released after the customary three-week lag. However, "several others" thought that new action from the Fed "could be warranted" if the economic recovery were to lose momentum, risks to the forecast "became sufficiently pronounced," or if inflation seemed likely to run "persistently below" the Fed's 2% target.

That's a shift from the central bank's April policy meeting, where "several" Fed officials thought more action could be needed only if the economic recovery seemed to be deteriorating.

At the June meeting, some Fed officials had also worried about the effects the Fed's asset purchases could have on markets.

In June 11 out of 12 Fed officials voted to keep the central bank's easy-money policies in place. The Fed has said since January that it plans to keep short-term interest rates at "exceptionally low levels" at least through late 2014.

Fed officials noted, however, in the minutes, that this guidance could change based on economic developments and that the date in the statement "would be subject to revision should there be a significant change in the economic outlook."

Fed officials thought strains in global markets had increased since their previous meeting in April, largely from the European debt crisis. Some policy makers noted the importance of preparing for any spillover from the European turmoil. Several officials commented that it could be helpful "to explore the possibility of developing new tools to promote more accommodative financial conditions and thereby support a stronger economic recovery."

Almost all Fed officials thought the unemployment rate was higher than their goal and noted the slowdown in job growth "was more substantial than many participants had anticipated."

Overall Fed officials thought recent data continued to show that the economy was expanding moderately. Consumer price inflation had declined since the previous meeting, mainly reflecting lower oil and gasoline prices, according to the minutes.

At the June policy meeting, Fed officials also discussed making changes to how they communicate with the public. "Many" officials were interested in developing a "quantitative economic projection" and how that would lead to monetary policy, but acknowledged that could be "challenging," given the range of views among Fed officials.

At their last meeting on June 19-20, Fed officials extended through the end of the year a $667 billion program meant to drive down long-term interest rates. Under "Operation Twist," the central bank sells short-term securities and uses the proceeds to buy longer-term securities.

Fed officials didn't launch a third major bond-buying program in June, but suggested more assertively than earlier that they might do so in the future.

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83.55 +0.18%, el indice del dolar sube.

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Algo ha pasado para que menos miembros en esta reunion favorezcan mas estimulo que en la reunion de Julio.

-75.47

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Yields up 1.503%

+83.10

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Resumen: la economia sigue creciendo menos que modestamente, pero sigue creciendo, por lo tanto no hay estimulo a la vista.

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El euro bajando mas 1.2221

-80.15

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VIX sin cambio 18.72

-80.95

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-93.96

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-114

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El euro sigue bajando 1.2217

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El indice del dolar ha tocado su punto mas alto en dos anios.

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Hoy la Casa de Representantes llevara a votacion el ObamaCare, los republicanos piden "repeal" la ley.

-113.72

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-103.92