Highlights of the minutes of the June 17-18 FOMC meeting:
- Most on Fed saw broadly balanced jobs, growth and inflation risks
- Some participants concerned that persistent low inflation in Europe and Japan could erode inflation expecations
- Some Fed officials saw investors too complacent on risks
- Full text
- Many participants want to end portfolio reinvestments at or after first rate rise
The US dollar kicked higher on the headlines but there’s no much there. The bolded comment strikes me as hawkish because there is a great deal of uncertainty about reinvestment.
