- All 19 Federal Reserve officials backed the September rate hike, according to minutes of the Sept. 15-16 FOMC meeting released Wednesday in Washington.
- Many officials supported the rate increase to guard against the risk of intensifying inflation pressures.
- A separate group of officials said higher rates were necessary based on their outlook for the economy, signaling greater concern for elevated inflation.
Quotes
“All 19 Federal Reserve officials backed the decision in September to raise interest rates”
“A separate group of officials said higher rates were necessary based on their outlook for the economy”