Washington (US), 7 Oct. (LaPresse/AP) – According to the minutes of the US central bank’s latest meeting, published today, most Federal Reserve officials expect that a further rise in interest rates will likely be necessary this year to combat inflation. The officials unanimously agreed that inflation remains high and that, in recent months, there has been no significant progress towards the 2 per cent target, the minutes state. During the 15–16 September meeting, the Fed raised its benchmark rate by a quarter of a point, bringing it to around 3.9 per cent: this was the first increase in three years.
Fed: minutes suggest another interest rate rise may be needed to combat inflation
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Washington (US), 7 Oct. (LaPresse/AP) – According to the minutes of the US central bank’s latest meeting, published today, most Federal Reserve officials expect that a further rise in interest rates will likely be necessary this year to combat inflation. The officials unanimously agreed that inflation remains high and that, in recent months, there has been no significant progress towards the 2 per cent target, the minutes state. During the 15–16 September meeting, the Fed raised its benchmark rate by a quarter of a point, bringing it to around 3.9 per cent: this was the first increase in three years.
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