Nomura economists eyed the Wed 2pm ET.......>

US VIEW: Nomura economists eyed the Wed 2pm ET FOMC meeting minutes release.

"The post-meeting press conference for the 19-20 September FOMC meeting

highlighted the significant degree of uncertainty among FOMC participants about

the causes of recent soft inflation," they said. "However, Chair Yellen sounded

relatively hawkish on the short term during the Q&A session, indicating that

while the weakness may not be well-understood, it should not be the cause to put

off a hike in December." 

- They expect FOMC minutes to "reflect the amount of debate among participants

about recent inflation weakness. However, there will likely also be some debate

surrounding the FOMC's evaluation of financial conditions and asset prices. At

the post-meeting press conference, Chair Yellen stated that "sometimes

movements, upward movements and asset prices can, for example, reflect a change

in market participants, a reduction in market participants' estimates of the

longer-run level of interest rates." This is a view previously shared by St.

Louis Fed President Bullard but contrasts with previous statements by NY Fed

Pres. Thus, the minutes could shed further light on this discussion."