The Federal Reserve on Wednesday released minutes from its Sept. 19-20 policy meeting.
Federal Reserve officials at their September meeting differed on whether any additional interest rate increases would be needed, though the balance indicated that one more hike would be likely, minutes released Wednesday showed.
The document noted that all members of the rate-setting Federal Open Market Committee agreed they could"proceed carefully" on future decisions, which would be based on incoming data rather than any preset path.Another point of complete agreement was the belief"that policy should remain restrictive for some time until the Committee is confident that inflation is moving down sustainably toward its objective.
Fed economists noted that the economy has proven more resilient than expected this year, but they cited a number of risks. The auto workers' strike, for one, was expected to slow growth"a bit" and possibly push up inflation, but only temporarily. Inflation data points, particularly regarding future expectations, generally have been indicating progress toward the central bank's 2% target, though there have been a few hiccups.
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