FOMC Minutes: Many Fed officials saw another rate hike warranted this year

The minutes from the Federal Reserve’s September (19th & 20th) monetary policy meeting have been released, revealing that many Fed officials saw another rate hike warranted this year.

Key highlights (via Reuters):

• Many Fed officials saw another rate hike warranted this year
• Many Fed officials concerned low-inflation not only transitory
• A few Fed officials wanted hikes delayed until inflation higher
• Some patience warranted while assessing inflation
• Several Fed officials said hike should hinge on incoming data
• A few officials pointed to upside inflation risks due to tight jobs
• Fed officials saw next few inflation reports affected by storms
• most officials saw wages picking up as labor market strengthens