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Fed sees more rate rises if economy stays on track
By Sam Fleming in Washington
Almost all of the Federal Reserve’s policymakers said in their latest meeting they expected to push through further gradual increases in interest rates if the economy stays on track, with central bankers gearing up for a further quarter-point rise at their upcoming meeting in December.
A speech from Fed chairman Jay Powell sparked a stock market rally on Wednesday as some investors bet the central bank may not boost rates much more. Yet minutes from the latest policy meeting show that the Fed is ready to increase its target range “fairly soon” — which probably means December — and that there may be more tightening to come in 2019.
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