What does the yuan devaluation mean for the Fed? Quick Deutsche Bank comment

Just a quickie .... a on what the People’s Bank of China yuan devaluation means for the Federal Reserve and its approach to a rate hike

( any bolding mine)

From Deutsche Bank:

• The direct impact of the devaluation via the growth and inflation outlook on the Fed's decision to start the hiking cycle should be limited.
• However, the impact via the risk aversion and financial stability concerns could be more relevant