WASHINGTON (AP) — Federal Reserve officials earlier this month appeared on track to raise its key interest rate again in December, but they signaled that…
WASHINGTON (AP) — Federal Reserve officials earlier this month appeared on track to raise its key interest rate again in December, but they signaled that the pace of future rate hikes might need to slow given emerging risks to the economy, according to minutes of the discussions released Thursday.
The minutes of the Fed’s Nov. 7-8 meeting showed that officials expressed concerns about a variety of threats, including the impact of tariffs, a slowing global economy and tightening financial conditions amid falling stock prices.
The Fed has raised rates three times this year and says the current economy is in strong shape. The minutes show support for a fourth hike this year if the labor market and inflation meet or exceed expectations. But after that, officials said further hikes would not be on a preset course.
In a speech Wednesday, Fed Chairman Jerome Powell raised similar points, which sent stock markets surging. Investors interpreted his remarks as evidence that the Fed might consider pulling back from quarterly rate hikes.
