MBS Day Ahead: Fed Minutes Speak to Ancient Well-Known History

The Fed has increasingly been discussing its tapering strategy.  They haven’t been shy about saying so.  In fact, at least 5 members have vocally supported announcing tapering in the September meeting if jobs gains continue at the current pace.  But that’s just the 5 who’ve opted to speak up.  There could be a few others who share that sentiment, and today’s Fed Minutes would help the market get a better sense of the number a week before Powell adds even more clarity (hopefully) in Jackson Hole. 

Even if that number is surprisingly high, we should also consider…