Monday, February 4, 2013

Expect no fed monetary policy action this week

Dennis Gartman, editor of the Gartman Letter, expects that the Fed's monetary policy committee will take no action whatsoever this week.

Indeed, the only things that might come from the meeting is further clarification, if any, of its intentions moving forward regarding purchases and/or dispensing of assets from its balance sheet.

The debate at the meeting very well may focus on upon potential losses that might be suffered by the bank on its balance sheet as debt prices weaken and interest rates rise.