Most Fed members backed future rate hike, Fed September minutes show
Investing.com – Most Federal Reserve policymakers agreed that one more rate hikes would be"appropriate" and emphasized the need to keep interest rates higher for longer as inflation continues to trend well above the central bank’s 2% target, the Fed’s September meeting minutes showed Wednesday.
Fed members are “in a position to proceed carefully in assessing the extent of any additional policy firming that may be necessary,” Federal Reserve Vice Chair Philip Jefferson said Monday in remarks prepared for a speech at a National Association for Business Economics conference in Dallas. “It’s the last CPI reading before the next FOMC decision on November 1st and therefore it could be impactful to markets that are pricing little to no chance at a hike at that meeting,” Scotiabank Economics said in a recent note.in a sign that the Fed is nearing the end game on rate hikes, several members suggested that the focus should shift from rate hikes to how long rates should be held at restrictive levels.
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