Inside the Fed’s June Meeting: The Annotated Minutes

In June, the Federal Reserve hiked rates for the third time in its past five meetings and maintained plans to deliver another increase by the end of 2017. With the release Wednesday of minutes from that meeting, we'll see how concerned Fed officials are about sluggish price growth and perhaps glean clues on the timing of balance sheet normalization.

May's minutes showed that most participants viewed the slowdown in inflation as transitory. The balance of opinion may be shifting, however, in light of data released the same day as the Fed's June meeting which marked the third straight month of surprisingly soft price pressures. Dallas Federal Reserve President Robert Kaplan has said he wants to see more progress in moving towards the 2 percent inflation goal before lifting rates again.