Rate rise next move: Fed

The next change to the federal funds rate is likely to be an increase, the latest Federal Open Market Committee minutes show.

The minutes, published Tuesday, said: "Members generally anticipated that the next policy move would likely be a tightening." However, officials acknowledged the situation was in flux and that as a result the timing and extent of policy actions could not be predetermined.

Divided

The minutes also reveal a divide over inflationary risks and over threats from the financia