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.