eFXdata reports that Barclays Research discusses its expectations for FOMC minutes from the January meeting.

"The Fed made no change to its policy stance or forward guidance at its January meeting, which was widely expected. We expect the main thrust of the minutes to center on two elements. First, that the Fed believes there is a long way to go before the economy can achieve its dual mandate objectives, even if a large fiscal aid package is passed by the end of Q1 as we expect. Hence, any discussion about tapering or exit strategies is premature in the eyes of the committee. Second, with multiple vaccines approved and rollouts begun, the Fed has shifted its risk assessment to view the pandemic as presenting mainly downside risk to the near term as opposed to the medium term." Barclays adds.