Goldman Likes Its Fed Minutes “Mildly Hawkish,” Probability Of June Hike Still 60%

Well, it's difficult to know exactly what to make of the Fed minutes. There was talk of a possible bubble in risk assets. There was discussion of letting the balance sheet roll off. Etc. At a certain level it makes sense that the dollar fell. After all, if they're going to use the balance sheet to tighten, that kind of suggests they may be able to skip an outright hike or two. But you've gotta think that the Minutes were at least somewhat hawkish, which makes it all the more unnerving (for the