Fed Minutes Show More Officials Warned of Rate-Hike Scenario (1)

A majority of Federal Reserve officials warned the central bank would likely need to consider raising interest rates if inflation continued to run persistently above their 2% target.

In response to the same worries, “many” officials during last month’s policy meeting called for the Fed to drop its easing bias and signal its next move could be an interest-rate increase, according to a record of the gathering.

While several policymakers said they believed rate cuts would eventually be warranted, most of the meeting’s participants instead stressed that “some policy firming would likely become appropriate if inflation were to continue to ...