Federal Reserve meeting minutes: Most officials expect another rate hike before the end of the year

智通财经2026/10/07 18:32

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According to the minutes released today, Federal Reserve officials expect to raise interest rates again before the end of this year to curb inflation, which has remained above target levels for more than five consecutive years. However, the minutes did not indicate when policymakers expect to hike rates, only implying that persistently high prices and a stable labor market could prompt the Fed to implement a second rate increase this year. The minutes stated: “Regarding the monetary policy outlook after this meeting, most participants judged that it could be appropriate to raise the target range for the federal funds rate again by the end of the year.” “However, participants emphasized that they would approach each meeting with an open mind, and decisions at future meetings will depend on new information as well as its impact on the economic outlook and balance of risks.” The discussion at the September meeting showed that officials see ongoing risks of inflation remaining stubbornly high, while the labor market is “close to full employment,” and overall economic growth has accelerated. The minutes noted: “Many participants emphasized that, from a risk management perspective, a prudent approach would be to raise the path of the federal funds rate target range, thus providing insurance against the risk that inflation will remain above target due to stronger-than-expected demand or further adverse supply shocks.”

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According to the minutes released today, Federal Reserve officials expect to raise interest rates again before the end of this year to curb inflation, which has remained above the target level for more than five consecutive years. However, the minutes did not indicate when policymakers specifically expect to hike rates, only that persistently high prices and a stable labor market could prompt the Federal Reserve to implement a second rate increase this year. The minutes state: “Regarding the outlook for monetary policy after this meeting, most participants judged that it could be appropriate to raise the target range for the federal funds rate again by the end of the year.” “However, participants emphasized that they would approach each meeting with an open mind and that future decisions would depend on newly released information, as well as its impact on the economic outlook and risk balance.” The September meeting discussion showed that officials saw a persistent risk of inflation proving sticky, while the labor market was described as “close to full employment” and overall economic growth had accelerated. The minutes state: “Many participants emphasized that, from a risk management perspective, a prudent approach would be to maintain a path of raising the target range for the federal funds rate, providing a safeguard against inflation remaining above target if demand proves stronger than expected or further adverse supply shocks occur.”

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The US Dollar Index, which measures the dollar against six major currencies, rose by 0.4% on the day, closing at 102.242 in the late New York forex market. By the close, 1 euro exchanged for 1.1199 US dollars, down from the previous session's 1.1261 US dollars; 1 British pound exchanged for 1.3219 US dollars, down from the previous session's 1.3277 US dollars. 1 US dollar exchanged for 157.96 Japanese yen, down from the previous session's 158.12 yen; 1 US dollar exchanged for 0.8330 Swiss francs, up from 0.8313 Swiss francs; 1 US dollar exchanged for 1.4256 Canadian dollars, up from 1.4209 Canadian dollars; and 1 US dollar exchanged for 9.9992 Swedish krona, up from 9.9861 Swedish krona in the previous session.

智通财经•2026/10/07 20:01

The US Dollar Index rose by 0.4%, closing at 102.242.

New York oil prices closed down 1.3%, Brent crude oil fell 0.38%.

At the close of trading, the November delivery light crude oil futures price on the New York Mercantile Exchange fell by $1.16, settling at $88.28 per barrel, a decrease of 1.3%. The December delivery Brent crude oil futures price in London fell by $0.38, closing at $100.20 per barrel, a decrease of 0.38%.

智通财经•2026/10/07 20:00