Fretful Fed

Minutes from the last Fed meeting were released yesterday and the Fed is covering the bases. While some want to raise rates in June, most don’t as they see more downside than upside risk, including weakening exports and a worsening trade deficit despite cheaper gasoline. They also fret about both weak global growth and inflation, and the potential for things unraveling in Greece and Russia/Ukraine. Expect a Q3 rate hike.