Federal Reserve officials hint rate increase may be necessary

Multiple Federal Reserve officials indicated the central bank may need to raise interest rates later this year, according to newly released minutes of the Fed’s July meeting. While most participants at the joint meeting of the Federal Open Market Committee (FOMC) and the Fed’s…

Several Federal Reserve officials favored an interest-rate hike last month and many indicated that policy tightening would be necessary if inflation didn’t decline, a record of the central bank’s most recent policy debate showed.