Fed Minutes Could Show the Depth of Hawkish Rebel Camp

Fed Minutes Could Show the Depth of Hawkish Rebel CampGold Silver Reports — Fed Minutes Could Show the Depth of Hawkish Rebel Camp — Minutes of the Federal Reserve’s September policy meeting could illuminate the degree of pressure Chair Janet Yellen faced from officials eager to raise interest rates, insights that could help guide expectations on the likelihood of a hike by year end.

The record of the meeting, during which policy makers left the federal funds rate target in a range of 0.25% to 0.5%, is scheduled to be released at 2 pm on Wednesday. In a speech on Sunday, Fed vice-chairman Stanley Fischer said the decision was a “close call.“

Three of 10 voters on the FOMC dissented in the Sept 21 hold, arguing for a rate increase instead. Seven other officials participated in the meeting and expressed their views but are not FOMC voters this year.

“I would look for quantifications of how many participants shared views of the three dissenters,“ said Roberto Perli, partner at Cornerstone Macro. “That might give us a sense of whether a hike this year is a solid base case, or whether it could go away with just some mildly disappointing data.“

Investors currently assign about a two-thirds chance of a December rate hike, based on prices in federal funds futures contracts, and a less than 20% chance of a move next month.  — Neal Bhai Reports

Fed Minutes Could Show the Depth of Hawkish Rebel Camp

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