Some Fed officials stand against interest hike in December

Some Fed officials stand against interest hike in December

Mubasher: A group of Fed officials have opted for a steady policy in December, as the market remains volatile, according to the minutes of the Federal Open Market Committee (FOMC).

Despite the fact that the FOMC voted unanimously for the interest hike, the minutes showed some officials were out of tune with that opinion.

Many officials suggested a “patient’ attitude towards policy firming, while the participants in the meeting, generally, were in favour of “a relatively limited amount of additional tightening”.

The minutes showed that Fed officials were keeping positive sentiment with regard to the economic outlook, despite the hard situation markets undergo.