The relatively benign statement (and election result) has left rate-hike odds at 100% for December but comment from Fischer and Yellen since have hinted concerns at the need for Trump fiscal spendfest. The main risk going in to the minutes was a dovish tilt for the future, tamping the current 'nothing can stop us now' attitude (and we note the dollar leaked lower into the release).

But sure enough, The Fed confirmed a rate-hike was approrpoate "relatively soon" and was "important to Fed credibility."

*MOST FED OFFICIALS SAW RATE HIKE APPROPRIATE `RELATIVELY SOON'

*MANY FED OFFICIALS SAW STABILITY RISKS IF JOB MKT OVERHEATED

*SUBSTANTIAL MAJORITY FED OFFICIALS SAW RISKS ROUGHLY BALANCED

*SOME OFFICIALS SAW DEC. HIKE IMPORTANT TO FED CREDIBILITY

*FED OFFICIALS SEE RESERVE BALANCES STAYING LARGE FOR `A WHILE'

The biggest split in the November meeting minutes was between those who wanted a rate hike "relatively soon" if incoming data continued to show an improving economy, with some explicitly calling for a move in December, and yet another pushing for a hike as soon as last month.