“With substantial resource slack likely to continue to dampen cost pressures and with longer-term inflation expectations stable, the Committee expects that inflation will remain subdued for some time.”
The FOMC said that the economy showed signs of stabilization at at its September 23 meeting, but not enough to call off the monetary dogs. Expect the minutes to show a consensus for the “lower for longer” status quo.
This is already built into market prices. The surprise to the market would be a more hawkish slant from the minutes.
