Bloomberg: Fed On Path Toward Higher Interest Rates
Bloomberg reported that the Fed officials dismissed recent turmoil in global financial markets, and focused instead on “solid” employment gains that will keep them on a path toward an interest-rate increase next year.
Bloomberg noted the FOMC maintained its commitment to keep interest rates low for a “considerable time.” Fed funds rate futures show the probability of a rate increase by the September 2015 FOMC meeting is about 60%, up from a 42% chance yesterday, Bloomberg reported.
Bloomberg said a majority of U.S. policy makers at their meeting yesterday also set aside concerns, both among their own members and in financial markets, about too-low inflation, voting to proceed with plans to end their third round of asset purchases.
To read the entire Bloomberg report, click here.