Hey, what's going on team? It's Ricky with techbook Solutions Hope that you guys are all having an amazing Tuesday A lot of questions I've been getting both through uh YouTube and Instagram and it's you know, what is the Fomc minutes meeting? uh that we have tomorrow and just thought I'd explain this in a very quick video. So let me go ahead and start sharing my screen so you guys can see exactly what it is that I'm looking at. uh so you can actually look at this all your stuff. You can go to the actual Federal Reserve.gov website. My job here on YouTube is just to make things a little bit easier to understand. So if if I do accomplish that goal of making some uh this easier to understand I really hope that you can consider just dropping a thumbs up and even subscribing, especially if you're just getting into the stock market as I upload new videos every single day, making the stock market a little bit easier to make sense of. So what are the minutes of the Federal Open Uh Market Committee So pretty much uh, for those that are unaware, if you are unaware, what's going to happen tomorrow 2PM Eastern Time Wednesday November 23 The day before Thanksgiving There's going to be an Fomc minutes report. This is at 2 p.m when it gets released. Now what's the significance of this report? I'm going to read the actual definition that they have and I'm just going to put it into very simple terms: People like you and I to be able to make sense of what the importance of it is. So the minutes of the Federal Reserve Open Market Committee which is considered of the acronym Fomc meeting which are released three weeks after each meeting. So for those that are unaware, there's a meeting where they announce an interest rate hike. Do you guys remember where the market aggressively sold off? If I'm not mistaken, it originally pushed up and then it aggressively sold off. We actually live streamed it on this YouTube channel. We might even live stream it tomorrow. Uh, but uh, the actual live stream? Uh, wasn't them talking much about the report, but they just announced an interest rate hike right? And then he answers uh, by he I mean Jerome Powell which is the head of the Federal Reserve Spend about 30 minutes to 40 35 minutes answering questions at a series of reporters and analysts are there to ask. It doesn't really talk about how they came to that decision of the 0.75 interest or height. Based off of our previous CPI data report that was just released, the markets began to go up. Why? Well, because inflation came in lower than expected. So now it's expected that the Federal Reserve will be less aggressive for the next interest rate hike. But this actual uh, Fomc minutes report is really just going to cover how they came to that conclusion of the 0.75 percent from the one that they just released. so we can see which has released uh, three weeks after each meeting, provide a timely summarize of the discussion during the meeting and the decisions taken at the meeting. So pretty much all that is saying is that this report right of the FMC minutes meeting. Um, all it's going to be. It's going to be a summary of the actual meeting because when they actually released the report, we don't get a summary. We don't really get a transcript of what was said by who and who agreed and who disagreed, right? So the minute described the views and expressed by policy makers and explain the reasons for um I'm sorry for the committee's decision. Uh, the meeting uh can help the public interpret economic and financial development and understand the committee's decisions. Pretty much the summary right. It's kind of like, uh, the way that I view it. at least the way that I grew up is kind of like these, like Cliff Notes right? It's a summary of, maybe a book. so that's all this is. It's going to be a summary of that actual meeting that the Federal Reserve had those Uh meetings that they have. Um, when the Federal Reserve meets, they're not public, right? People like you and I can't necessarily listen into them. So this is a transcript and pretty much a summary of those meetings on how they came up with the 0.75 interest rate hike that they released about two to three weeks ago. So as as an official record of the meeting, the minutes identify all attendees and provide complete record of the policy action taken, including the votes by individual members of each policy action. So again, it's literally like a whole transcript of everyone that actually voted and what they voted for. Do they agree or do they disagree? Did some agree for a more aggressive interest rate hike or did some policy makers um, you know, try to vote for a less aggressive interest rate hike? So this actual report will literally just summarize all of that if you cared for it. Again, all this really is is I Think the best way that I could explain it is the minutes can help the public interpret economic and financial development and understand the committee's decision. All we're trying to do is have a better understanding of the committee's decision, right of how they came up and came together to agree on the 0.75 interest rate height and again, this is going to be released tomorrow 2 p.m Eastern in time and it's called the Fomc minutes meeting and again 2 p.m Eastern time. The market should react to it, but on top of that, we also do have drawable orders and continuing claims that is also going to be released, but those are one hour before the Market opens. so that's going to be at 8 30 a.m Eastern time and again, this is all available for free If you guys wanted to look into economic reports and then at 2 pm eastern time. Um, we're going to have the Fomc minutes meeting, which by then Market should be pretty close to being closed, but again, it should still be open. But again, my job is just to make you aware of when these economic reports are going to be released because they can affect the market, especially if you're on a trade. if you're an investment I Don't know if you've ever been in one and then some of these reports get released and then it can completely ship the direction of the market. It's kind of bothersome when it happens, but it definitely does happen from time to time anyway and again. A quick little recap on the day: I closed a little bit over 14 700 on the day on Ttpq I close my position I left myself with my fancy one share. It's consider my lucky one share if you're part of my learn time. Prophet You know all about it and I'm going to start fresh for tomorrow, right? So for tomorrow's live trading session I Have better internet so I'll be live streaming here from my parents house I'm visiting them here for the holidays I'm sure a lot of you guys are traveling as well, so especially if you're new to our learn plan profit team, make sure that you get all set up and get ready to watch me trade live tomorrow because as of right now Nasdaq futures are down point two percent. So that means that Sqp Cube should be up if the NASDAQ Market were to open right now again. I Do Trade Live Every Single day. If you want to learn more about it, this is our Learn Find Profit Group. 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And again, all you have to do is sign up in between November 14 and November 20th if you've been waiting for a reason to sign up then maybe this is this is it. So I appreciate your time. If you have any questions again, feel free to send me a direct message via Discord and that's going to be that first link in the description. If you're ready to watch me trade live as soon as tomorrow and again, that's going to be that second link down below and I'll see you tomorrow at Market Open for our live trading session I Hope that this gave you a little bit of a better understanding of how to interpret that. Uh, Fomc minutes report that is going to be released tomorrow and again I Do anticipate in live streaming that so again all you have to do is subscribe to the channel and drop a thumbs up on this video. Appreciate your time! I'll see you guys on the actual like always. Let's make sure that we're in the year on our green note tickets. Easy team.