Fed minutes from the October meeting were basically as expected

Fed minutes from the October meeting were basically as expected. The most meaningful info from the notes is the Fed's concern over the potential for falling inflation expectations. Keep in mind, inflation has been running below the Fed's target of 2% and a further deterioration of inflation could hurt future growth prospects. At least some of the reasoning behind the drop in inflation expectations is due to the poor global economic outlook (particularly in Europe, Japan, and China). On the other hand, the Fed noticed improvements in the US labor market, with solid job gains and lower unemployment. Finally, the Fed generally doesn't currently believe there's any reason to restart stimulative bond purchases. (VIEW LINK)