Courtesy of Mish.
Fed Minutes of the FOMC Meeting suggest rate hikes are coming “fairly soon”.
Let’s check out the market reaction and how mainstream media played up the minutes.
FOMC Statement
“In discussing the outlook for monetary policy over the period ahead, many participants expressed the view that it might be appropriate to raise the federal funds rate again fairly soon if incoming information on the labor market and inflation was in line with or stronger than their current expectations or if the risks of overshooting the Committee’s maximum-employment and inflation objectives increased.”
Mish Synopsis: “Rate hikes might be appropriate if something occurs and something else occurs.
How much more vague could the Fed get?
Financial Times Cites Robust Expansion
Here is Financial Times spin from Fed flags Interest Rate Rise ‘Fairly Soon’.
“Despite the background of political wrangling, the US economy has continued to see a robust expansion that many Fed policymakers think supports their median projection for three rate rises this year.”
