Minutes from the Federal Reserve’s September meeting, released Oct. 7, showed most officials thought another interest-rate increase would likely be appropriate by year-end.
The Fed had raised its key rate by a quarter point in September, its first hike since 2023, citing sticky inflation and energy costs. Markets had marked down the odds of an October move after weak hiring data, but the minutes kept a year-end hike in play.
The 10-year Treasury yield touched about 5.36% that day, its highest since April 2002, and stocks slipped from recent highs. Officials left the exact timing open, setting up a closely watched Oct. 27-28 meeting.
Sources: While You Were Out, US News America. Thee Arizona Times uses AI-assisted reporting reviewed against the sources listed.
Photo: Federal Reserve / Public domain via Wikimedia Commons.
