Fed minutes show most officials expect another rate hike this year
Summary
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 policy meeting, held on September 15-16. The minutes gave no sign as to when the hike would come, CNBC reports.
Latest: Minutes of the Federal Reserve's September 15-16 meeting showed most officials expect another interest rate increase will likely be needed this year to combat inflation.
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How it unfolded
Wednesday 7 October
Minutes of the Federal Reserve's September 15-16 meeting showed most officials expect another interest rate increase will likely be needed this year to combat inflation.
- 14:19ABC NewsFederal Reserve officials expect another rate hike will be needed this year, according to minutes
- 14:07CNBCFed officials see another hike coming, but no sign as to when, minutes show
- 14:05The Philadelphia InquirerFederal Reserve officials expect another rate hike will be needed this year, according to minutes