September meeting minutes highlights
- Many Fed officials saw another rate hike warranted this year
- Many Fed officials concerned low-inflation not only transitory
- a few Fed officials wanted hikes delayed until inflation higher
- some patience warranted while assessing inflation
- several Fed officials said hike should hinge on incoming data
- A few officials pointed to upside inflation risks due to tight jobs
- Fed officials saw next few inflation reports affected by storms
- most officials saw wages picking up as labor market strengthens
- many Fed officials expect tighter job markets to lift inflation
- most Fed officials did not assume fiscal stimulus enforce
- Several Fed officials concerned trend inflation running under 2%
- Couple Fed officials saw fin. conditions posing stability risks
The dollar has dipped a bit on the minutes call for another hike this year. The yang to the ying is that many are concerned that low inflation is not only transitory. That seems to the be focus on the report and likely makes - and keeps - following inflation, the main driver for policy and for traders.
