Dec 12-13 FOMC Minutes show almost all agreed...>

FED: Dec 12-13 FOMC Minutes show almost all agreed on rate hike, with 

only a couple (Evans and Kashkari) wanting to wait for infl rise.

-Many participants saw the then-proposed tax cuts possibly lifting PCE, 

business fixed investment, and, according to "a few," labor supply.

-Participants agreed the flatness of the yield curve was "not unusual" 

but suggested that it should be monitored.

-While risks still balanced, participants wanted to watch infl closely.

-A few participants were "uncomfortable" with pace of 2018 hikes implied 

by the SEP, with concern that it would impede a rise of infl to 2%.

-On the other hand, a few though the SEP did not reflect a pace that was 

fast enough for hikes in 2018.

-A few suggested further study into alternative monetary policy 

frameworks such as price-level targeting and nominal GDP targeting.