Highlights of the FOMC minutes for the March 17-18, 2015 meeting:
- Fed officials favoring liftoff later in 2015 cited dollar, oil
- Officials
- Several participants at Fed meeting judged that economic data likely to warrant June rate hike
- Other participants anticipate initial rate hike more likely later in 2015 due to impact of US dollar and oil prices
- Minutes say a couple of participants (Kocherlakota and Evans for sure) suggested holding off raising rates until 2016
- Participants expect fairly gradual pace of rate increases; not necessarily at every meeting
- Minutes say further improvement in labor market
- Full text of the FOMC minutes
The main headline is Bloomberg's and not that it reads 'shows' not 'says'. The minutes say 'several'. Does Bullard, Fisher and George count as several?
It's hawkish overall. Definitely keeps a June hike on the table but remember this was before NFP and some other recent data. The dollar took some time but it's going now.
