by Mike ‘Mish’ Shedlock
Today the Fed released Minutes of its July 26-27 FOMC Meeting.
I counted 17 instances of words beginning with “uncertain”.
In regards to rate hikes, the minutes show “The median respondents to the Desk’s Survey of Primary Dealers and Survey of Market Participants saw one rate hike in 2016 as most likely, the same as in the June surveys.”
In January, the median expectation was for three hikes.
I counted precisely one use of the word “hike”. Nonetheless, let’s take a look at today’s headlines.