Fed minutes: Another rate hike likely coming this year to combat persistent inflation
Originally published by The Gleaner Read the original
Most Federal Reserve officials expect that another interest rate increase will likely be needed this year to combat inflation, according to minutes released on Wednesday from the central bank’s most recent meeting. The officials unanimously agreed that inflation was still elevated and had not made much progress towards their 2.0 per cent target in recent months, the minutes said. The Fed increased its key interest rate at the September 15-16 meeting by a quarter-point to about 3.9 per cent, its