Wall street dissects the Federal Open Market Committee minutes the same way teenage girls dissect their conversations with their crushes.

"He said he likes me - but does that mean he likes me as a friend...or does he really like LIKE me????"

Wall street does the same thing...as an example...."Last month the Fed chair said she would raise rates soon...this month she said RELATIVELY soon...so what does that mean?

Because those slight changes in the language - can actually move the markets - so they absolutely are worth paying attention to.

The minutes come out eight times a year and they give us a real sense of what the Fed is doing with its balance sheet, what it thinks about inflation and where it expects interest rates to go

Changing interest rates can totally affect the economy. Remember, they control the federal funds rate and the discount rate.

The fed funds rate is the rate banks charge to borrow from each other and the discount rate is the rate banks pay to borrow directly from the Fed.

So changes in these rates can affect the money supply in our economy -

And that kind of info can move the market. 

The Fed is expected to release minutes from its December meeting on January 9. Stick with Bradley Keoun for the latest. 

Watch more videos on TheStreet's Youtube Channel ' Would you rather 'listen' to Jim Cramer? Check out his new Podcast 'Cramer Live' on Soundcloud.

 

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