All over the place.
Released On 8/17/2016 2:00:00 PM For 8/17/2016 2:00:00 PM
Highlights
The economy was improving but policy makers at the FOMC meeting in late July wanted to see more gains before raising rates. Yet the assessment of the core economy was upbeat with household spending described as "growing strongly" and the labor market, following June's initial 287,000 surge in nonfarm payroll, described as "strengthening". Housing was seen as a modest positive with the service sector expanding but with the factory sector no better than mixed.
Regarding their policy objectives, policy makers agreed that the labor market would continue to strengthen and that inflation would gradually move to their 2 percent target. Some saw a rate hike coming soon and one member, Kansas City's George, wanted to hike rates immediately. But the bulk of the FOMC were content to wait and see, results that don't point to any sense of urgency for a September rate hike. And the bond market's initial conclusion is that the minutes are indeed dovish, with the 2-year yield down a sizable 6 basis points to 0.71 percent.
Edited by Rogerdodger, 17 August 2016 - 01:32 PM.