Looking Ahead to FOMC Minutes -Christopher Vecchio, Currency Analyst at DailyFX
"We've heard a lot from the Fed as of late and most of the developments have been priced in in regards to when the Fed sees rates rising. Although no surprises are expected, market participants will be noting any shifts on the FOMC in regards to how quickly policy must be normalized. It is important to note that voting members on the FOMC this year exclude known doves Bullard and Evans. Although the Fed's lone bubble spotter (Jeremy Stein) is stepping down, more balanced additions such as Fischer, Brainard and Powell may hint at more hawkish sounding policy statements and minutes moving forward. The market has adjusted relatively well to the less dovish lean as of late, but the transition is likely to take place over the next year. This presents a risk of considerable more volatility when detailed statements are given, especially in context of the disappointing March US NFP report on Friday."
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