Fed indicated rate hike could come ‘relatively soon,’ FOMC minutes show

23-Nov (MarketWatch) — Senior Federal Reserve officials agreed last month it might be appropriate to raise interest rates “relatively soon” against a backdrop of an improving labor market and somewhat higher inflation, minutes of the bank’s last big meeting in November show. Many officials even worried the U.S. economic recovery could be at risk if the central bank waited too long to raise rates, a marked change in tone compared to just a few months ago. Financial markets view it as a near certainty that the Fed will raise its benchmark short-term interest rate at its next meeting in mid-December.

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