Fed minutes show unanimous support for 25bp hike, see 1 more increase as appropriate

According to minutes released by the Federal Reserve, all participants supported a 25-basis-point rate increase, and most judged one additional hike by year-end could be appropriate. Almost all participants saw inflation risks as tilted to the upside, while assessing labor market risks as generally balanced. The Fed staff’s economic outlook was stronger than at the July meeting, and many participants said financial conditions were still supporting economic growth despite a recent rise in long-term Treasury yields. Participants also noted future economic data would determine the direction of interest rates.