Highlights of the FOMC Minutes released January 6, 2015:
- Some FOMC members say Dec hike as 'close call'
- Some saw 'considerable' risk to inflation outlook
- Some Fed officials saw lower jobless unlikely to stoke prices
- Many officials concluded long-run inflation expectations stable
- Fed officials saw several reasons 'gradual' hikes likely appropriate
- Risks to inflation included oil and stronger dollar
- Fed to carefully monitor actual and expected inflation progress
- Some members stressed the need to see inflation rising
- The Fed hiked for the first time in almost a decade at the meeting
- The minutes of the Dec 15-16 FOMC meeting
- Full text
The US dollar is lower on the kneejerk as the market sees it as dovish.