Federal Reserve officials expect one more interest rate increase before the year is over, according to minutes released on Oct. 7.
The Fed voted unanimously on Sept. 16. to follow through on the first interest rate hike since July 2023, bringing the key policy rate to a new target range of 3.75 percent to 4 percent.
But the U.S. central bank might not be one and done, the September Federal Open Market Committee meeting summary indicated.
“With regard to the outlook for monetary policy beyond the current meeting, most participants assessed that another increase in the target range for the federal funds rate would likely be appropriate by year end,” the document stated….