fomcminutestoday

Fomc Minutes today

The Federal Reserve released the FOMC minutes from its September 15–16 meeting yesterday afternoon. The detailed records confirm that the central bank’s decision to execute its first interest rate hike in three years—lifting the benchmark rate by 25 basis points to a target range of 3.75% to 4.00%—was supported unanimously (12–0) by voting members. [1, 2, 3, 4]

The minutes reveal a clear, hawkish bias toward further tightening. Most participants judged that another rate hike would be appropriate before the end of the year to combat persistent inflation pressures. In a sobering update, Federal Reserve staff projected that inflation will not return to the central bank's 2% target until 2029. [1, 2, 3, 4, 5]
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