FOMC Minutes Released; Fed in No Rush to Cut Rates

Minutes of the January policy meeting of the U.S. Federal Open Market Committee (FOMC) were released last Wednesday (February 21). They showed that the Fed was in no rush to cut interest rates and emphasized that it must be careful when judging whether the inflation rate will continue to fall to 2%. Evaluate the latest economic data released. Despite the Fed's hawkish stance, the U.S. dollar index, which reflects the dollar's performance against a basket of major currencies, fell 0.33%.Haberkorn also said: "The current trend in the precious metals market is subtle. Although interest rates remain high, there is still a large influx of safe-haven buying."