The minutes of the Federal Reserve's September meeting were released tonight, and the market is paying attention to officials' evaluations of the financial environment and the path of interest rate hikes

The minutes of the September meeting of the Federal Reserve will be released at 2:00 am on Thursday (UTC+8), and the market is paying attention to officials' judgments on the restrictive financial environment and the future path of interest rate hikes. The Chicago Fed National Financial Condition Index shows that the US financial situation is in a historically loose range, and the ICE BofA US High Yield Bond Index option adjusted spread is at a historical low. Mott Capital Management founder Michael Kramer believes that the current financial environment is not sufficient to be defined as clearly restrictive policies. In August, the overall PCE in the United States increased by 3.4% year-on-year, with core PCE rising by 3.0% year-on-year. The effective federal funds rate was about 3.9%, and the real interest rate was lower than the level of former Federal Reserve Governor Kevin Warsh's term in 2006. Michael Kramer stated that the officials' discussions disclosed in the meeting minutes will help determine the nature of the September interest rate hike.