http://www.federalreserve.gov/monetarypolicy/fomcminutes20160427.htm The FOMC Minutes were released thIs afternoon. My take on it? Less of a concern on the global front, but a softness in the inflation rate and some of measure monitored. Note that the vote to continue the federal funds rate at the current level had a dissent. Read the minutes for yourself and see what you think. Frankly, I find a bit incredulous that, given the decade-long history, that the FOMC can continue to rattle the markets. FWIW, I think the more disturbing, mostly ignored, number continues to be the abysmally low labor participation rate of less than 63%. See the data on the Bureau of Labor Statistics website. And the new DOL overtime pay rule announced by VP Biden today reads like good news on the surface. I expect the unemployment rate to go up as the marginal salaried employee working a few extra hours a week may well be affected. Small business owners may well find it cheaper to replace the full time employee with two part time workers who would not be entitled to medical and other full time benefits. The trick here? The rule won't materially affect business owners until after the next presidential election. Meanwhile, working voters may well be fooled by the seemingly good news and vote for the liberal progressive Democratics (and Clinton) without looking at the larger picture. I have to wonder if the FOMC and the DOL are on the same page, or if the White House czars are stirring the pot to create chaos and mayhem. (Add in the $15/hour disruptive bit to the economic melting pot.) Can't make this up.