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BULLET: FOMC MINUTES: Many participants saw another 2017 as..>

FOMC MINUTES: Many participants saw another 2017 rate hike as warranted 
if conditions progressed as they expected, but all agreed that the 
September 19-20 meeting was not the time. Several cited a need to be 
more confident that the recent slowdown in inflation growth was 
temporary, with "a few" going as far as to need actual evidence that 
inflation was moving toward the 2% objective before even considering 
another rate hike. They acknowledged that reaching that goal may take 
longer than anticipated. Some saw room for further gains in labor 
utilization and noted that hourly earnings growth was "subdued." Most 
did not assume the impact of fiscal stimulus in their forecasts, or they 
downgraded any impact. The said that the storms were likely to depress 
growth and raise inflation in the near-term, but that they should have 
little impact in the medium-term after rebuilding commences. Therefore, 
they felt it was appropriate at the September meeting to announce its 
securities reduction plan, which they believed the markets were prepared 
for. See MNI main wire. 

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