The Fed lurks as a risk to the great bull market

The minutes from the Fed's late July meeting released Wednesday were on the hawkish side, which the market didn't like. The Dow Jones Industrial Average finished the session down 88 points. Most notably, the Fed was worried about a pickup in wage inflation.

TheStreet debates the risk that is the Federal Reserve. 

Watch TheStreet's bull and bear debate on Target (TGT) after its strong second quarter earnings Wednesday.