Fed officials anticipate further rate increase
The Federal Reserve meeting minutes indicated that officials expect to raise interest rates again before the end of the year to combat inflation, which has exceeded the target for more than five years, with decisions possibly made at the October and December meetings. The minutes did not specify an exact date for the second hike, but most members believe that an additional increase could be appropriate by the end of 2023, with continued hesitations among officials about the possibility of a rate hike in October. Recent data showed that core inflation stood at 3% in August, still above the 2% target, as the discussion focused on the risks of persistent inflation versus improvements in the labor market and economic growth.
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