Fed minutes may not sway markets despite hawkish tones
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The Nov. 1 Fed meeting minutes may look outdated due to weak U.S. economic data since the meeting. Hawkish commentary may not affect markets.
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The minutes are expected to reiterate the Fed's plan for more rate hikes to tame inflation, a bearish signal for risk assets like bitcoin.
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But weak jobs and inflation data after the meeting have convinced traders the Fed's rate hike cycle has ended.
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The minutes may push back against the recent easing in financial conditions, which runs counter to the Fed's tightening efforts.
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Any hawkish hints in the minutes may have a limited market impact given expectations for rate cuts in 2023.