Economy / Markets
Fed minutes show most officials still expect one more rate hike this year
Minutes of the Federal Reserve's September meeting, published October 7, showed most participants judged that another increase in the target range would likely be appropriate by year end. The Fed had delivered its first hike since July 2023 at that meeting, with officials split over whether energy-driven inflation or demand warranted the move. Markets now price roughly a 17% chance of a second consecutive hike at the October 27-28 meeting, down from about 38% a week earlier.