Shift in FOMC language intended to show December hike ‘may well become appropriate’
Minutes from October meeting reveal thinking behind change in language
A shift in language in the Federal Open Market Committee (FOMC) statement following its October meeting was intended to convey that it "may well become appropriate" for the Fed to start raising interest rates in December, minutes show.
The FOMC said it would assess progress towards both its inflation and employment objectives "in determining whether it will be appropriate to raise the target range at its next meeting" – placing added emphasis on the December decision.
"Members emphasised this
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