Fed minutes confirm Dec hike expectations

WASHINGTON, D.C.: Minutes of the Federal Reserve’s in October policy board meeting confirmed Thursday that participants expected to begin raising interest rates in December.

While some at the October 27 to 28 meeting of the Federal Open Market Committee said it was already time for the first rate increase in over nine years, “most participants” expected the economic conditions would be right by their December 15 to 16 meeting, the minutes said.