The release of minutes of the most recent US Federal Reserve meeting, when their latest monetary policy decision was made, was the key event in the US this week. This is because from the content and the tone of the discussion at the meeting, the market tries predict more accurately the possible changes to US monetary policy going forward. Monetary policy is what dictates the cost of borrowing, and is therefore a key driver of both the US, and global economy. The long and short of those minutes is they have been viewed by the markets as a disappointment. Those looking for some form of confirmation that further quantitative easing (“QE”, basically the electronic printing of money, to help stimulate growth), have been disappointed.