In December, the Federal Reserve delivered its third interest rate hike of 2017 and maintained plans to increase rates three times this year. However, two Fed regional bank presidents — Neel Kashkari of Minneapolis and Chicago's Charles Evans — dissented from the decision, each citing concerns about below-target inflation.

With today's release of the minutes of that meeting, we'll get a sense of whether worries among Fed officials about persistently sluggish price pressures have approached a tipping point.

Markets are pricing in more than two rate increases of a quarter percentage point from the U.S. central bank over the next 12 months. The December dot plot implies that there's a loose consensus among Fed officials that by 2020, rates will need to be raised to levels designed to restrain economic activity — potentially risking a recession in the process.