Highlights of the minutes of the Sept 21, 2016 FOMC decision:
– Policymakers noted there was a ‘reasonable argument’ for either hiking in Sept or waiting for additional data
We’ve heard the ‘close call’ talk from Fed speakers since the meeting so it shouldn’t be a big surprise. Overall, it’s a tad hawkish but with Dec already priced at 70%, I’m not sure it can move much higher.
