FXStreet (Delhi) – Research Team at Deutsche Bank, suggests that the main point of note in yesterday’s FOMC minutes were the comments from officials suggesting that last month’s decision to commence liftoff was a ‘close call’, reflecting concerns around the outlook for inflation in particular. Key Quotes “The text revealed that ‘for some members, the risks attending their inflation forecasts remained considerable’ and that ‘among those risks was the possibility that additional downward shocks to prices of oil and other commodities or a sustained rise in the exchange value of the dollar could delay or diminish the expected upturn in inflation’. Aside from those comments, in truth there was little else of note from the minutes and instead the text was pretty consistent with the post-meeting statement. On timing of future moves, there was more emphasis on the need for ‘gradual’ adjustments in the fed funds rate, while also emphasizing the need to adjust policy as economic conditions evolve. There was also reference to the stress in US HY around the timing of last month’s meeting. While participants didn’t downplay the moves, there appeared to be little concern from officials about the wider implications for now however.” For more information, read our latest forex news.