Overnight press: Federal Reserve exit strategy quietly taking shape as September meeting approaches

Jon Hilsenrath in the Wall Street Journal overnight:

• Federal Reserve officials have been making progress on developing a blueprint for the mechanics of future interest rate increases
• This puts officials in a position to make some decisions on “how” they will raise interest rates– as opposed “when”– by their September meeting
• Minutes of the Fed’s July meeting, to be released Wednesday, could provide fresh clues on how officials are thinking.

This is a (very) brief article and is well worth reading as it discusses the various options the Fed can consider: Grand Central: Fed’s Exit Strategy Quietly Taking Shape As September Meeting Approaches. Not gated.