Fed Minutes Show Nothing New, But Traders Cheer

This week, the Federal Reserve released its September meeting minutes to eager traders who have been watching the bank's every word for months in hopes of correctly predicting its timeline for a rate hike. The September minutes revealed no new information, but markets rallied anyway as investors took the bank's comments to mean that markets were safe from an interest rate increase for yet another month.

Minutes Show Caution

Fed Chair Janet Yellen has been very open about her plans to exercise caution when raising rates, saying that no matter what, the decision would be based on data. Last month, the nation's central bankers agreed that although a rate hike was certainly in the cards, it would be best to hold off until it was clear that weakness in other parts of the world weren't dragging down the United States' recovery.

Data Suggests They'll Wait

Data out this month has been softer than expected, so many traders believe the bank will continue to hold off until the nation's economic indicators paint a rosier picture. Jobs data was much weaker than forecast, and as Yellen has said the rate hike will be largely dependent on the labor market's strength, many believe that report will be enough to postpone a rate hike in October. Of course, some analysts say they still see the bank raising rates before the end of 2015 and with only two meetings to go, time is running out.