November 7- 8 FOMC statement: See you in three weeks for the Minutes

Key points: In line with expectations the Fed maintained a status quo at the November FOMC meeting leaving rates unchanged at 2.00%-2.25% . The wording was mostly unchanged reflecting a solid labor market, strong economic activity and stable inflation. In short , today’s decision was uneventful as the next hike is largely expected in December. W e will have to wait for the M inutes (to be published on November 29) t o glean additional information on the Fed’s perception of the current economic environment and on the potential for a cut in the IOER at the next meeting .