Fed Minutes Show Support for Next Hike Was a Close Call for Some
- Many participants concerned low inflation more than temporary
- Central bankers see economic rebound after hurricanes’ impact
Pimco's Clarida: Minutes Prove December Hike Likely
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Federal Reserve officials held a detailed debate last month over whether forces holding inflation down were persistent or temporary, with several policy makers looking for stronger evidence of price gains before supporting a third interest-rate hike this year.
“Many participants expressed concern that the low inflation readings this year might reflect not only transitory factors, but also the influence of developments that could prove more persistent,” according to minutes of the Sept. 19-20 meeting, released Wednesday in Washington.