Fed officials see another hike coming, but no sign as to when, minutes show
Minutes showed 16 of 18 forecast submitters expected another increase as officials cited inflation above the 2% target and a stronger labor market.
- Most Federal Reserve officials expect another interest rate increase will be needed this year to combat inflation, according to minutes released Wednesday, as officials unanimously agreed inflation remained elevated and had not made progress toward their 2% target.
- Of the 18 Federal Open Market Committee officials who submitted forecasts, 16 said they expected another increase, with participants emphasizing that a higher path for the target range would be prudent on risk-management grounds.
- The Fed increased its key interest rate at the September 15-16 meeting by a quarter-point to about 3.9%, and officials noted that financial conditions, including rising stock prices, appeared to be supportive of economic growth.
- Wall Street investors now forecast the Fed will keep its rate unchanged at its next meeting October 28-29, while Philip Jefferson, vice chair of the Fed's board of governors, said last week policymakers will need more time.
- President Donald Trump criticized the committee for voting to raise rates, calling them "very political," while higher oil prices stemming from the Iran war and lingering tariff effects have lifted costs in recent months.
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The record of the last meeting of the Federal Open Market Committee (Fomc), in which the Federal Reserve (Fed) announced its first monetary squeeze since 2023, showed that most of the members of the US central bank consider it necessary to increase interest further by the end of the year. The members of the committee, however, stressed that future decisions would depend on the information received and its implications for the balance sheet of ri…
Fed policymakers divided over rate-hike logic in September, minutes show
The meeting minutes from the US Federal Reserve's latest decision on the policy rate show that members believe that the interest rate will be raised further before the end of the year.
The Record
VINnewsFed minutes: Another rate hike likely coming this year to combat persistent inflation
Most Federal Reserve officials expect that another interest rate increase will likely be needed this year to combat inflation, minutes released Wednesday from the central bank’s most recent meeting showed.
Winnipeg Free Press
Federal Reserve officials expect another rate hike will be needed this year, according to minutes
WASHINGTON (AP) — Most Federal Reserve officials expect that another interest rate increase will likely be needed this year to combat inflation, according to minutes released Wednesday from the central bank's most recent meeting.
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