What the June FOMC Minutes Say About Path of Fed Policy

The transcript discusses market expectations for the timing of the Federal Reserve's tapering, with consensus leaning towards September. It highlights the internal divisions within the Fed and the potential impact on tapering and rate hikes. The debate on whether inflation is transitory or not is also covered, with the market betting against transitory inflation. Upcoming Fed announcements and reports are mentioned, along with strategies for market positioning.

What is the current debate in the market regarding inflation as described in the text?

How are traders positioning themselves ahead of the upcoming Fed meetings?