Most U.S. Federal Reserve members support rate hike ‘relatively soon’

Most U.S. Federal Reserve members support rate hike ‘relatively soon’


The U.S. Federal Reserve has agreed that a
rate increase is appropriate “relatively soon.” Minutes from their November meeting, held
around a week before the U.S. presidential election, showed policymakers generally agreed
that the case for raising rates in December had strengthened. A number of members said a hike was needed
to preserve the Fed’s credibility. They cited strength in domestic consumption,
new records in stock indexes and low unemployment as signs the economy is on the right track. Analysts say the Fed will almost certainly
raise rates by a quarter-point at its December 13th to 14th gathering… barring a major
upset to the economy. The Fed’s benchmark rate is currently in a
range of zero-point-two-five percent to zero-point-five percent.

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