BNP reckon the Minutes from the July FOMC meeting () severely damaged the chances of rate lift-off in September
unleashed early last night
“The Committee is increasingly convinced that the labour market is near
or very close to where it needs to be to justify liftoff, but not
confident on the inflation outlook. The subsequent Chinese devaluation
and weak commodity prices will not have helped the Committee’s
confidence in their inflation outlook,” BNPP notes.