NEW YORK ( TheStreet) -- In the aftermath of the Federal Reserve minutes, markets may be volatile in upcoming days as the Fed enters unknown territory in regards to exiting its massive bond-buying program.While the minutes weren't surprising - the Fed wants to see a considerable pick-up in the jobs market before it pulls out of monetary easing completely, it needs a united front and set plan for the smoothest exit possible. In the meantime, investors will be wondering about the Fed's strategy. The first chart below is of iShares Barclays TIP Bond ETF ( TIP) over iShares Barclays 7-10 Year Treasury ( IEF). This cross measures inflation expectations derived from Treasury market price action. Inflation and commodities have declined sharply as the dollar has strengthened and tighter U.S. monetary policy is perceived as just over the horizon. The Fed minutes spoke of more tempered inflation expectations in the coming months. That should not play as large of a role as it once did in whether the Fed keeps policy the same or not, but it does weigh on investors' minds. Yields will be biased to the downside as inflation remains low and the exact date of scaling back easing remains uncertain.