Fed Minutes Reveal Continuing Inflation Concerns
ederal Reserve commissioners left the door open for future rate hikes and said some inflation risks remain after deciding during the Federal Open Market Committee’s Oct. 24 meeting to hold rates at 5.25%, according to minutes of the meeting that were released Wednesday.
The committee said that while “it was no longer appropriate” to cite high energy prices as a potential inflation-sustaining threat, it maintained that its outlook was little changed from the Sep. 20 meeting and that future policy firming is possible.
As he did at the previous two meetings, Richmond Fed President Jeffrey Lacker continued to oppose the pause in rate hikes and called for another increase, according to the minutes.
The Oct. 24 meeting was the seventh of eight FOMC meetings scheduled for this year.
