The latest meeting minutes of the Federal Reserve will be released at 2 a.m. (UTC+8) on Thursday

Golden Finance reports that the latest minutes from the Federal Reserve will be released at 2 a.m. Thursday (UTC+8). These minutes detail discussions from the policy meeting on March 19-20, when the Fed maintained its benchmark interest rate in the range of 4.25%-4.50% and signaled three rate cuts within this year, each by 25 basis points.

However, times have changed and market conditions have dramatically shifted. Since Trump announced a global tariff plan on April 2nd, U.S stocks plummeted significantly with several economists warning of potential economic recession within this year. In his speech on April 4th, Powell took an obvious hawkish turn warning "we are facing highly uncertain prospects while bearing risks of both unemployment and inflation rising."

The latest futures market data shows traders have increased expectations for four rate cuts this year. Although these meeting minutes reflect considerations during the "pre-tariff era", they can still reveal consensus among decision-makers at that time.

Idanna Appio, senior analyst at First Eagle Global Value pointed out: "At the March meeting there was significant disagreement about forecasts for economic outlook." Market analysts will also focus closely on discussions about financial stability in these minutes as since March credit market vulnerability has intensified and volatility continues to rise. If these minutes show that Fed was already vigilant about potential risks to financial system then investors may need to reassess their policy determination.