HERE COME THE FOMC MINUTES...
Reuters/Djordje Kojadinovic
The minutes follow the Fed's latest monetary policy meeting, which saw the Fed keep interest rates unchanged while taking another $10 billion off its monthly asset purchases, bringing its purchases to $25 billion per month.
The minutes also come ahead of this year's Jackson Hole symposium, which is expected to see a number of the biggest names in central banking speak, headlined by comments from Fed Chair Janet Yellen.
In a note to clients this week, Ward McCarthy, chief financial economist at Jefferies, said that the FOMC minutes could be more interesting than Jackson Hole.
McCarthy writes that, "the Minutes will provide an update on policymaker discussions of 'issues associated with the eventual normalization of the stance and conduct of monetary policy' that appeared in the Minutes to the June 17-18 FOMC meeting."
Ethan Harris at Bank of America Merrill Lynch said that, "Based on changes to the [FOMC statement] in July, the FOMC is less worried about persistently low inflation, but continues to see 'significant' slack in the labor market. We look to the discussion to see how these changes led Fed officials to reassess their views around the liming of lift-off."
The Fed has signaled that if the economy continues as expected, it will conclude tapering its asset purchases with its October meeting.
We'll be back with complete coverage of the minutes as soon as they hit.
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