Fed Officials Unanimously Backed September Rate Hike, Most See Another By Year-End
MT newswire2026/10/07 23:1307:13 PM EDT, 10/07/2026 (MT Newswires) -- Most Federal Reserve officials judged that another interest rate increase would likely be appropriate by year-end, according to minutes of the Sept. 15-16 Federal Open Market Committee meeting released Wednesday, multiple outlets reported. All 19 officials backed the September decision to raise rates, with many supporting the move to guard against intensifying inflation pressures, the minutes showed, according to the reports. A separate group said higher rates were necessary based on their economic outlook, signaling greater concern about elevated inflation. Several participants said underlying economic momentum appeared to have increased, and many said financial conditions appeared supportive of growth, citing higher equity prices and narrow corporate bond spreads, according to the minutes, the reports said. Voters unanimously raised the benchmark rate by a quarter point to 3.75%-4%, the first increase since July 2023, the reports said, adding that Fed Vice Chair Philip Jefferson and New York Fed President John Williams said in speeches last week the central bank has time to assess the economy before considering another increase.
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