The FED minutes are rather long this time...and show considerable disagreement as to what is needed.
Everyone agrees that the economy is cooling...but in an environment where stagflation is possible...merely cooling the economy does not automatically stop inflation.
While the consumer is slowing due to higher rates, and higher gas prices, and collapsing real estate values;
The global and marco factors are still in play for inflation.
If oil stays low...and the dollar and bond hold up...the FED can hold back on rate hikes...
But any notion of "permanently stopping" rate hikes could go against the dollar and cause the FED to resume tightening...thus protecting the dollar and driving down oil and gold in the process.
