The Federal Reserve thinks it will be appropriate to raise interest rates “relatively soon,” according to minutes of its most recent meeting released Wednesday.
This release covered the meeting that was held November 1-2, a week before the US election.
The minutes did not account for the postelection surge in Treasury yields and inflation expectations, which made a December rate hike all the more likely.
The market’s stability and rise to new highs since then supports the case for a hike next month. Also, retail sales jumped to a two-year high, showing that consumer spending — the backbone of economic growth — remained strong. – READ MORE