Traders

Happy Friday eve, team. Phil Rosen here. Did you catch yesterday's Fed minutes release? 

It looks like central bank officials unanimously agreed that the last rate hike of 25 basis points was the appropriate size, and that slowing down the pace would "better allow them to assess the economy's progress."

But several participants would have also backed a half-point hike, the minutes showed. 

That tells us we should be taking the Fed at its word: The inflation battle isn't over. 

Howdy readers. I'm Phil Rosen, reporting from Manhattan. 

Remember the whole "good news is actually bad news" relationship between the economy and markets?

Well, yesterday we learned private sector economic activity clocked in at multi-month highs, which means businesses are gaining momentum.