Fed minutes signal rate hike likely at September meeting
Updated : August 23, 2018 07:28 AM IST
The CME Group's tracking of investor expectations put the likelihood of a September rate hike at 96 percent. Many economists believe another rate hike will follow in December.
The Fed has raised rates seven times since late 2015 to make sure the lowest unemployment in nearly 50 years does not trigger unwanted inflation.
The rate remained at a record low near zero for seven years from late 2008 to late 2015 as the central bank tried to combat the worst recession since the 1930s with low rates to encourage more borrowing by consumers and businesses.