Fed Minutes Show Members 'Not in a Rush' to Raise Interest Rates

Minutes from the Federal Reserve's policy-making arm show that the central bank is willing to wait until after an interest rate hike to drain reserves and let asset purchases run off, Bank of America senior U.S. economist Michael Hanson tells TheStreet's Joe Deaux. Hanson says the positive market reaction suggests investors witnessed a 'dovish spin' on the minutes, which participants anticipated to be more favorable for tightening monetary policy. The minutes also note that investors may be complacent. Hanson says the FOMC noted this because they are reiterating that ending the current loose monetary policy isn't a 'done deal.'