Goldman Sachs: September FOMC Minutes Reinforce Hawkish Bias, but December Hike Still Data-Dependent
The September minutes showed unanimous support for the 25bp hike to 3.75%-4.00%, with officials judging that progress on inflation had not been sufficient. Almost all participants saw inflation risks tilted to the upside, while labour-market risks had diminished and were now broadly balanced. Many viewed the hike as pr