Loading ...FOMC Minutes Show Many Members Believe Rates Should Rise Sooner
Tyler Durden’s pictureSubmitted by Tyler Durden on 08/20/2014 14:03 -0400
These are the minutes from when the Fed toned down deflation fears and raised concerns over labor slack, and expectations going in were for a slightly more hawkish tone from the minutes (and perhaps commentary on financial stability – bubbles – and exit strategies). This is what we got:
•*MANY FED OFFICIALS SAID JOB GAINS MIGHT BRING RATE RISE SOONER
•*FOMC AGREED BALANCE SHEET SHOULD BE CUT GRADUALLY, PREDICTABLY
•*SOME FOMC PARTICIPANTS MORE UNCOMFORTABLE WITH FORWARD GUIDANCE
Sounds pretty hawkish to us…
Pre-FOMC Minutes: S&P Futs 1982.5, 10Y 2.4175%, Gold $1294 , USDJPY 103.40, Oil $95.40