Fed minutes show most officials favored another rate hike by year end

Recent Federal Open Market Committee (FOMC) meeting minutes reveal that most officials consider another rate hike likely before the year ends. This perspective is driven by persistent inflation, rising energy prices, and significant AI spending, which have fueled concerns among the panel. The central bank released these details on Wednesday, indicating that the majority of participants assess an increase in the target range as a probable step for monetary policy outlook moving forward this year.