Fed shows support for 3rd rate hike
WASHINGTON (AP) Federal Reserve officials generally believe that it'll soon be time for another increase in the Fed's key interest rate. However, a few felt any further rate hikes should be delayed until they see inflation moving higher. Minutes of the Fed's Oct. 31-Nov. 1 meeting showed that many officials believed a third rate hike this year will likely be warranted if incoming data leaves the medium-term outlook unchanged. But "a few" officials remained worried that inflation has failed to accelerate toward the Fed's 2 percent goal as expected. They suggest that the central bank needs to remain cautious in pushing rates higher.