The Federal Reserve released the minutes from the April FOMC meeting today. Most people are reading them to mean that a June interest rate hike is off the table.
Here are some other thoughts on what the minutes mean for markets, culled from Twitter:
Shorter FOMC minutes: Fed officials realize they have no idea what is going on in the economy.
- Tim Duy (@TimDuy) May 20, 2015
Being data dependent is hard when the data isn't clear.
- Ylan Q. Mui (@ylanmui) May 20, 2015
Collective shrug in markets reflects this. https://t.co/CapxkOezmW
- Julie Hyman (@juleshyman) May 20, 2015
Fed officials talked about possibility that seasonality quirks were depressing Q1 data. pic.twitter.com/fKnM3rl8Iy
- Joseph Weisenthal (@TheStalwart) May 20, 2015
Maybe the next fed chair will raise rates
- Betty (@I_BlackBetty_I) May 20, 2015
We June birds aren't so crazy after all. It's not about the economy. It's about the dual mandate. And THAT has been met #Fed $FED
- Lydia Idem Finkley (@faithmight) May 20, 2015
Link to April FOMC minutes: http://t.co/2LkTxptXA1 summary: June hike isn't happening (fed fwd contracts implying first hike in Jan'16 fwiw)
- Christopher Vecchio (@CVecchioFX) May 20, 2015
When the Fed will hike rates is still anyone's guess.