FOMC Minutes Confirmed the Possibility of a Rate Hike in December
The FOMC minutes for the September meeting confirmed the Fed's position on raising rates this year. For the management of the bank, the decision to raise interest rates this year will largely depend on whether economic statistics will improve in the coming months the confidence that inflation is moving toward a 2% target level.
In the Fed's protocols, many politicians still believe that another rate increase will be justified this year, but some noted that the additional tightening depends on upcoming inflation data. According to average forecasts, consumer prices rose by 0.6% in September after an increase of 0.4% a month earlier. In annual terms, the price growth rates are expected to accelerate to 2.3% from 1.9% in August.