After a year of fighting the Fed, investors, it seems, are starting to listen to what the central bank has to say.
It's not all bad news in the Fed minutes, however. They showed that Fed officials are growing more optimistic that the U.S. could avoid a recession even as rates increase and economic activity slows.
"Given the continued strength in labor market conditions and the resilience of consumer spending, however, the staff saw the possibility of the economy continuing to grow slowly and avoiding a downturn as almost as likely as the mild-recession baseline," according to the minutes. Look out for Friday's jobs report. That will be the key piece of data showing whether the economy can indeed land softly — or if the Fed will need to engineer a crash landing to stop inflation.
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