FOMC December meeting minutes preview – Barclays

Barclays Research Team published its brief preview of what to expect from the upcoming FOMC Dec meeting minutes that will be released at 1900 GMT today.

Key Quotes:

“We expect the minutes to shed light on the inconsistencies in the committee's economic projections.

We believe that, in the absence of fiscal stimulus, some members may have reduced their inflation path in 2018 given recent softness on inflation.

With the stimulus from tax cuts, however, these members likely felt that the existing median policy path of three hikes next year struck the right balance between preventing too-large a fall in unemployment while showing commitment to the inflation target.

We will also read the minutes with an eye toward how many members may prefer a pause in rate hikes in March to further demonstrate a commitment to returning inflation to 2.0% while assessing underlying inflation trends.”