Here's my guess for tomorrow's minutes. "We were pleasantly surprised by plummeting oil prices along with the housing markets as well as the GDP. The yield curve looks fabulous from here and we are happy that everything is just right. The heightened geopolitical risks should serve to further decrease material commodities along with oil futures. Glad to see the rate hikes have created new vistas and a soaring stock market for the goldbricks economy and a smooth takeoff is ensured from our soft landing. The complete replacement of the house and senate have served to stabilize and mediate any potential for changes to present economic legislation. We have decided to eliminate reporting on trade imbalances and inflation data as we don't see the benefits of spending 10c to print the paper." Anyone else want to take a stab?
Welcome to scheduled monthly redundancy for the month of November. The Fed views the current policy as sustainable. It could be worse and it could be better. Inflation expectations have been contained, but we still will hike rates, just to piss you off. Or maybe we won't cuz the value of your house fell by 25% this year. Oops. There is no inflation today - but tommorow it could be rampant. We must remain vigilant. That's why the policy is sustainable. We will continue to be perplexed by the long bond while we talk it up. We all have investments with PIMCO, dontcha know? After all, Janet Yellen is Bill Gross' lover. But she did spurn Pianalto so look for he and Lacker to dissent next month. JAIN.