US: April minutes raise prospects of June hike – Goldman Sachs

Research Team at Goldman Sachs, suggests that the minutes from the April FOMC meeting delivered a major hawkish surprise to markets.

Key Quotes

“The minutes reported that “most participants” thought a June hike would be appropriate if growth picked up, the labor market continued to strengthen, and inflation increased, conditions that the economy appears to be on track to meet so far.

While we still do not expect the next hike to come as early as June, the minutes meaningfully raised the odds and reaffirmed that monetary policy remains on a normalization path.”