Washington (AP) - Federal Reserve officials earlier this month discussed the need to raise a key interest rate again "fairly soon," especially if the economy remains strong.
Minutes of the discussions showed that while Fed officials decided to keep a key rate unchanged at their January 31-February 1 meeting, there was a growing concern about what could happen to inflation if the economy out-performed expectations.
"Several" Fed officials expressed worries that there could be a "sizable undershooting" of the Fed's 4.8 percent unemployment goal that could force the Fed to boost rates at a faster pace than financial markets currently expect.
At the moment, economists are not expecting a rate hike until June. But the discussion in the minutes might raise the possibility of a hike as soon as March.
Teacher accused of having heroin on...
Cosby convicted of aggravated indecent..
Copyright 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
- The Latest: Small hospital, schools evacuated near refinery
- Teacher accused of having heroin on campus, sex with student
- Bill Cosby convicted of drugging and molesting a woman
- Bill Cosby convicted of 3 counts aggravated indecent assault