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Economic Preview: As economy gyrates through tepid growth, Fed minutes may offer clues

Investors waiting for clues from the Federal Reserve this year may feel like a group of cats watching ping pong.

In March, policy makers tilted dovish and discussed “global economic and financial risks.” In April they turned more hawkish and dropped hints that a June rate hike might well be in the cards. But by the time of the June meeting, they were fretting about global headwinds again and suggested the upcoming U.K. referendum was a concern. By July, with the Brexit vote over and market turmoil subsiding, the Fed seemed somewhat more open to the possibility of resuming rate hikes.

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