Fed officials expect another rate hike this year, minutes show
In short
Minutes from the Fed’s September meeting say most officials expect another rate hike this year.
They said inflation is still high and has not moved much toward the 2% target. Markets think the Fed may hold rates at its October 28-29 meeting and raise them again in December, but the size of any move is not stated.
What the reporting says
Minutes of the Fed’s September meeting showed most Federal Reserve officials expect another interest rate increase this year as inflation remains elevated and has made limited progress toward the 2% target. The summary also says markets expect the Fed to hold rates at its October 28-29 meeting before raising them again in December. The exact size of the next move is not stated in the available reporting.
Why it matters
Minutes from the Federal Reserve’s September meeting show most officials expect another rate increase this year because inflation remains elevated and has made limited progress toward the 2% target. The summary also says markets expect the Fed to hold rates at the October 28-29 meeting before a possible December hike. The size of the next move is not stated in the available reporting.