Fed officials eye aggressive rate hike next month: NYT

Quick Take

  • Ahead of a decision slated for December, Feds are poised to raise interest rates again.

  • Steady inflation, rising prices, and a strong labor market contributed to the economic conditions behind recent aggressive rate hikes.

The Federal Reserve may undertake a higher-than-expected interest rate hike next month as inflation and the labor market stay strong.

"Federal Reserve officials have coalesced around a plan to raise interest rates by three-quarters of a point next month," according to the New York Times. The current economic conditions come at a time when officials at the U.S. central bank remain unclear about when they may step back on interest rate adjustments.

The Times reported that markets are betting this trend will persist until at least December, or perhaps by a meeting in November, based on economic projections, statements from the central bank, and a Fed presidential speech.

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