Markets soar on Federal Reserve minutes leak

clock

Global markets soared on Wednesday after the US Federal Reserve inadvertently released minutes from its latest policy meeting five hours earlier than planned.

The minutes were mistakenly sent to a host of banks and legislative staff members on Tuesday afternoon, including large banks such as Goldman Sachs, JPMorgan Chase and Citigroup. They revealed officials considered scaling back stimulus efforts earlier than expected if economic conditions continue to improve. The stimulus programme was the subject of debate within the Fed - the minutes said a "number" saw tapering of the Fed's purchase of $85bn in Treasury and mortgage assets by the middle of the year, and several saw a halt to the QE program by year end. The central bank but also r...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

PA360: It is 'impossible' to pick out the best asset class every year

PA360: It is 'impossible' to pick out the best asset class every year

‘The outsourced route is one that a lot of advisers are now taking’

Hope Coumbe
clock 26 April 2024 • 2 min read
PA360: Framing of information to investors 'extremely pervasive'

PA360: Framing of information to investors 'extremely pervasive'

Consumer Duty states consumer biases must not be exploited

Jenna Brown
clock 25 April 2024 • 1 min read
Schroders chief executive Peter Harrison to retire in 2025

Schroders chief executive Peter Harrison to retire in 2025

Harrison began his career at Schroders as a graduate in 1988

Cristian Angeloni
clock 24 April 2024 • 2 min read