Fed Minutes Show Rates On Hold, Repo Discussion Front And Center

The Fed stressed the relative appropriateness of monetary policy's current configuration at the December meeting, minutes from last month's pow wow released on Friday show. The Fed of course kept rates on hold at their final meeting of the year, and there were no dissents. It was the first unanimous decision since May. The dot plot showed no hikes in 2020, consistent with the “good place” characterization of policy that Jerome Powell and his colleagues had been keen to perpetuate since the