Fed Officials Saw Rate Hike Relatively Soon, Minutes Show
- Minutes detail policy makers’ meeting before election
- Central bankers say labor market has improved ‘appreciably’
Fed Sees Strengthening Case to Raise Rates
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Federal Reserve officials saw a strengthening case to raise interest rates as the labor market tightened, with some saying a hike should happen in December, according to minutes of their November gathering released Wednesday in Washington.
“Some participants noted that recent committee communications were consistent with an increase in the target range for the federal funds rate in the near term or argued that to preserve credibility, such an increase should occur at the next meeting,” the record of the Federal Open Market Committee meeting showed. Many officials said a rate rise could be appropriate “relatively soon,” data permitting, it said.