FOMC Minutes from Sept 16 (left FF unch at 2%) show concerns about S-T funding and note mkts had marked down expected path for mon-policy. FOMC was still concerned about inflation and only some noted a policy response "could be required" if mkts eroded more. But minutes also say FOMC should remain prepared to reverse easing in a timely fashion. Bernanke's speech today is setting up for a rate ease.