Fed minutes show little appetite for a string of hikes
The Federal Reserve released the minutes of its September 15-16 FOMC meeting on Wednesday at 2:00 p.m. EDT. According to MarketWatch's summary, many officials saw September's rate hike as needed in case inflation stays sticky. The framing is precautionary rather than the opening of a tightening cycle. The Fed's own release contains only the publication notice and links to the full minutes, so the detail behind that read is not in the material we have. Minutes are normally published three weeks after the decision and reflect only the information available to the Committee at the meeting. The full document is on the Board's website.
Why it mattersTreat the minutes as a signal that the September hike was a hedge, and read the full text before repricing the rate path.
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