Fed minutes indicate December liftoff

Federal Reserve policymakers, who are looking at deferring an interest rate hike, are now contemplating a rate liftoff at its December meeting. At the October 27-28 meeting of the Federal Open Market Committee, policymakers cleared a rate increase would consider the move at their meeting on December 15 and 16. The doves lost the battle, and it emerged before the release of a better than projected “October jobs report that provided more evidence of an economy on solid ground,” said Diane Swonk, Chief Economist at Mesirow Financial Holdings Inc. The Fed minutes also revealed majority of participants agreed the conditions that would ignite a rate hike could be met by next month.

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