Today's Fed Minutes Just Made Tomorrow's Jobs Report A Lot More Interesting

The minutes from the December FOMC meeting, released this afternoon, contained an interesting twist. Even though the Fed announced a particularly dovish policy shift with the introduction of the "Evans rule" at the conclusion of the December meeting, the minutes revealed an increasingly hawkish tone on the central bank's quantitative easing programs. The Evans rule ties the Fed's interest rate guidance to quantitative labor market thresholds - specifically, a 6.5 percent unemployment rate. In ot...