MNI's Policy team writes: Fed Minutes To........>

FED: MNI's Policy team writes: Fed Minutes To Reaffirm Positive Outlook.

-Today's minutes will likely give a better understanding of how Fed officials

view trade policy, the yield curve, and the economy and how that may affect

future monetary policy decisions.

-Federal Reserve officials had been quiet in the weeks leading up to the meeting

and even after the meeting, with very few scheduled speeches from policymakers.

However, Dallas Fed Bank President Rob Kaplan did not hesitate to say on Tuesday

that "...U.S. trade policy, particularly regarding NAFTA, are issues that could

negatively impact the outlook."

-The Minutes will likely hold more details on the Committee participants' views

on trade and what this could mean for the outlook. Seeing as the Minutes are

backward-looking and there have been further developments in trade policy since

the FOMC meeting, the Minutes should give a backboard for further discussion

when policymakers meet in Jackson Hole on Thursday.