FOMC Minutes: Policymakers generally agreed to continue to closely monitor inflation

The minutes from the December (13rd & 14th) Federal Reserve’s monetary policy meeting have been published, highlighting that about half of policymakers incorporated assumptions of greater fiscal stimulus in their forecasts

Key headlines (via Reuters):

• Almost all federal reserve policymakers saw upside risk to economic growth forecasts on expectation fiscal policies will be more expansionary under trump -minutes from dec. 13-14 meeting
• Many policymakers saw increased chance of faster rate hike pace due to higher risk of sizable undershooting of longer-run normal unemployment rate leading to higher inflation
• Policymakers emphasized their considerable uncertainty on timing, size and composition of any future fiscal and other economic policies
• Almost all policymakers anticipated unemployment rate over next two years would run below its longer-term normal level
• Several policymakers said a further rise in the u.s. dollar might continue to weigh on inflation
• Policymakers generally agreed to continue to closely monitor inflation, global economic and financial developments