Most Fed participants saw another rate increase as likely by year-end
The Fed's September minutes, released Wednesday, show that most participants thought another rate increase would likely be appropriate by year-end.
All participants backed the quarter-point September increase to 3.75 to 4 percent. Many described a higher rate path as prudent insurance against persistent inflation or further supply shocks, while several viewed the current policy rate as not restrictive or only mildly restrictive.
Policy did not change today.
The minutes record a meeting that ended three weeks ago. They also say future decisions remain dependent on incoming information. The Committee has two scheduled meetings left this year, ending October 28 and December 9.
