Federal Reserve minutes signal additional interest rate increase expected before year's end

The short version

• Federal Reserve meeting minutes show most officials expect to raise benchmark interest rates once more before the end of the year to combat inflation.[CNBC]
• The Federal Open Market Committee previously voted unanimously to lift rates by a quarter percentage point.[CNBC]
• The released meeting record gave no precise indication regarding when the upcoming rate increase would occur.[CNBC]
• Wall Street investors currently anticipate the central bank will pause in October and implement the increase in December.[ABC News]

Key facts

• Federal Reserve policymakers expect to raise interest rates again before the end of the year to counter inflation.[CNBC]
• Sixteen of the 18 officials submitting forecasts anticipated an additional rate hike.[CNBC]
• The committee voted unanimously to increase the benchmark funds rate by a quarter percentage point.[CNBC]
• Futures pricing suggests Wall Street investors expect rates to hold steady in October before rising in December.[ABC News]

Sources

Outlet counts describe coverage, not independent confirmation. Reports may share a wire service or original source.

• Fed officials see another hike coming, but no sign as to when, minutes showCNBC
• Federal Reserve officials expect another rate hike will be needed this year, according to minutesABC News - Top Stories