The FOMC’s meeting minutes are out, and our scores are in: while generally following in the dovish pattern of meeting minutes, today’s release, when compared to recent meeting minutes, was actually slightly hawkishness. We feel like this relatively hawkish turn indicates that a rate hike may indeed be in the cards for December.
While a winter liftoff is beginning to look inevitable, there seem to be at least 3–and possibly as many as 4–Board members that still need convincing to secure the decision.
Bottom Line: although the Fed is leaning towards a December hike, Prattle will watch their communications closely over the coming weeks to determine if we are completely convinced.
(“The Eccles Building”; by AgnosticPreachersKid )