Minutes due out at the top of the hour

The best thing to read before the minutes are released is the prior statement. In particular, here's the redline of the Dec 13 meeting compared to the previous iteration.

Along with the statement, here are the highlights from Yellen's opening statement that day. She once again said softness in inflation was transitory. Commentary around the view on inflation, especially wage inflation, will be key. The big question is if the Fed can continue to hike without seeing clear signs of higher prices.

Finally, watch for some color on the Fed forecasts.