If you need a catch up on the FOMC decision and statement, I've linked to Ryan's reports at the bottom of this post.

RBS comments ...

The Committee anticipates that it will be appropriate to raise the target range for the federal funds rate when it has seen some further improvement in the labor market and is reasonably confident that inflation will move back to its 2 percent objective over the medium-term

In our opinion, needing to see just "some" further improvement is a lower hurdle

But ...

This was the most dovish of hawkish statements

Earlier:

  • RBC says Fed hints it is one-step closer to lift off hike
  • Responses to the FOMC: Deutsche Bank says 'reinforces' view of Sep. lift off
  • Reactions to the FOMC statement - Citi says Fed nearly "good to go"

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Ryan was all over it:

  • Fed gives a jobs clue that a rate rise is getting closer
  • Full FOMC statement from the July 2015 monetary policy meeting
  • July 2015 US FOMC meeting: Rate to rise after further job market gains