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Fed minutes suggest more stimulus coming soon

Fed minutes suggest more stimulus coming soon

Despite recent signs of progress in the US economy the Federal Reserve’s August meeting showed that the U.S. central bank was willing to launch further monetary stimulus  fairly soon to support the economy. The news pushed the dollar to a two month low versus a broader basket of currencies.

The release comes after a dramatic selloff in U.S. government bonds over the past month, as improving economic data released after the Fed’s August meeting led investors to reduce bets that the Fed will announce a new bond purchase program when it meets in September.

Meetings between Greece and key euro zone leaders will continue, with Greece’s prime minister heading to Berlin to see German Chancellor Angela Merkel on Friday and French President Francois Hollande on Saturday. The PMI data release today showed that the eurozone manufacturing and service sectors contracted again in August indicating a steep slow down.

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