FOMC Update- Jan30-31 Minutes confirm

Jan 30-31 FOMC minutes confirm the "somewhat more favorable outlook" for both growth and inflation;

but reiterate that upside risks to inflation remain the primary concern until a downtrend
in core infl gets established.

There were no signs at all of dissent or disagreement. Concern about housing contraction has diminished but this remains the main econ risk;

another risk is too strong consumption. The minutes are entirely 'according to Hoyle' per the Bernanke testimony