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Fed Officials Saw Rates on Hold, With an Eye on Downside Risk

  • FOMC was briefed on possible next steps for repo market
  • Officials saw sustained expansion, job market strength
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Fed's Mester Says She's Happy With Policy at the Moment

Federal Reserve officials said their monetary policy was likely to remain appropriate “for a time” even amid what they saw as persistent downside risks.

“Participants regarded the current stance of monetary policy as likely to remain appropriate” as long as incoming reports affirmed their outlook, minutes of the Dec. 10-11 Federal Open Market Committee released Friday in Washington showed. “Nevertheless, global developments, related to both persistent uncertainty regarding international trade and weakness in economic growth abroad, continued to pose some risks to the outlook.”