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Weekly Market Compass: The Fed discusses US manufacturing, monetary policy rules, and the coronavirus epidemic
In last week's blog, I noted that what I would be following most closely that week was the release of the Federal Reserve's Monetary Policy Report, because it provides insight on what the Fed is thinking. On Friday, the Fed released this semi-annual report in advance of Fed Chair Jay Powell's Humphrey-Hawkins testimony before Congress on Feb. 11 and 12. As is customary, several special topics were covered in the report. Below,