According to economists at Deutsche Bank, the FOMC minutes point to a high probability that policy tightening will begin in December. It seems that this expectation was formed even before the strong October labor market report.
“Some participants thought that the conditions for beginning the policy normalization process had already been met. Most participants anticipated that, based on their assessment of the current economic situation and their outlook for economic activity, the labor market, and inflation, these conditions could well be met by the time of the next meeting.”
“Reflecting on these minutes our US economics team are now expecting a December lift-off (they had earlier moved their call out to March 2016 having previously long expected a hike in 2015).”