Fed Watcher’s Guide to Minutes: Exit Strategy, Employment View

Here’s what to look for when the Federal Reserve releases minutes from the Federal Open Market Committee’s April 29-30 meeting at 2 p.m. in Washington.

-- Exit strategy: The minutes may show that Fed Board members discussed possible changes to the central bank’s strategy to exit from record stimulus, according to Bank of America Corp. economists led by Ethan Harris, co-head of global economics research. The strategy lays out the sequence of steps for shrinking the balance sheet and raising interest rates.