Highlights of the FOMC minutes released Oct 8, 2014:
- Several felt guidance signaled too long to lift-off
- Some said change in guidance could be misinterpreted
- Some saw rising dollar as risk to exports and growth
- Fed officials saw global slowdown among risks to US outlook
- Most saw significant underutilization of labor resources
- Fed officials call for ‘patience’ on changing forward guidance
- Most said when guidance changes, should stress data dependence
- Some wanted to err on the side of patience on rate hikes
- A number worried that change in forward guidance would bring about tighter conditions
No sign of altering guidance on considerable time. Dollar falling.
