Misra: Read FOMC Minutes as Being Somewhat Hawkish

The transcript discusses the FOMC minutes, highlighting the uncertainty and hawkish tone of the Fed. It covers labor market slack, inflation risks, and the Fed's new mindset towards rate hikes. The impact of the jobs report on market expectations is analyzed, along with insights into macro investing strategies. The discussion also touches on the strengthening dollar, fiscal policy, and the importance of policy details in comforting the market.

What does the FOMC statement suggest about the current labor market slack?

How does the speaker interpret the FOMC's stance as hawkish?

What factors are mentioned that could influence the Fed's decision to hike rates?

How does the speaker describe the current mindset of the Fed compared to previous years?

What is the significance of average hourly earnings in relation to the Fed's policy?

What role does fiscal policy play in the current economic outlook according to the speaker?

What concerns are raised about the gap between survey expectations and hard data?