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Fed minutes show general support for 3rd rate hike this year
Federal Reserve officials generally believe that it’ll soon be time for another increase in the Fed’s key interest rate. However, a few felt any further rate hikes should be delayed until they see inflation moving higher, minutes of their last meeting revealed. Minutes of the Fed’s Oct. 31-Nov. 1 meeting released Wednesday showed that many officials believed a third rate hike this year will likely be warranted if incoming data leave the medium-term economic outlook unchanged. But “a few” officials remained worried that inflation has failed to accelerate toward the Fed’s 2 percent goal as expected. They ... (full story)