Adam was all over the FOMC Minutes:
- FOMC minutes: Officials saw need to watch for falling inflation expectations
- Full text of the FOMC minutes
Bottom line: The hawks at the Federal Reserve are out numbered
The Wall Street Journal have posted their 4 ‘key takeaways’
- EBOLA: Fed staffers took a wide view in assessing the sources of volatility in financial markets during October … global economic outlook concerns … number of technical factors reportedly contributed to volatile interest rate moves … worries about a possible spread of Ebola
- FALLING OIL PRICES … a net positive for the U.S. economy … but a sustained drop in prices would have effect s on oil drilling and related investment activity
- REVERSE REPO: The Fed last month announced some tweaks to its overnight reverse repo tool, which is expected to play a role in the eventual tightening of monetary policy
- LONELY DISSENT: Minneapolis Fed President Narayana Kocherlakota the only non-supporter of concluding the Committee’s asset purchase program at the end of October
