Fed minutes indicate most policymakers expect another rate increase by year-end

Minutes from the Federal Open Market Committee’s September meeting say most participants judged that another increase in the federal funds rate would likely be appropriate by year-end. The report says the committee had raised its target range to 3.75%–4% at that meeting.

Why it matters. The minutes provide information about the likely path of U.S. monetary policy, which affects borrowing costs and financial markets.