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. At the same time, a handful of central bank officials, including Vice Chair Philip Jefferson and regional presidents Raphael Bostic of Atlanta, Lorie Logan of Dallas and Mary Daly of San Francisco, have indicated that the tightening in financial conditions may negate the need for further hikes. Of the group, Logan and Jefferson have votes this year on the FOMC.
The minutes said consumers have continued to spend, though officials worried about the impact from tighter credit conditions, less fiscal stimulus an the resumption of student loan payments.
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