Fed Minutes Reveal Uncertainty Regard Future Hikes

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ederal Reserve commissioners were unsure of the need for further interest rate increases after deciding during the Fed's Aug. 8 meeting to hold rates at 5.25%, according to minutes of the meeting that were released Tuesday.

The meeting’s minutes showed that Fed officials saw the decision to their rate-hiking campaign as a close call, according to Bloomberg.

Alone of the commissioners, Richmond Fed President Jeffrey Lacker opposed the pause and called for another increase, according to the minutes.

Prior to the Aug. 4 decision to hold rates steady, the Fed had raised rates by a quarter-point for 17 straight meetings dating back to June 2004.

The Aug. 4 meeting was the fifth of eight FOMC meetings scheduled for this year.