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Economic Conditions Could ‘Soon Warrant’ Rate Hike, Fed Says

Economic Conditions Could ‘Soon Warrant’ Rate Hike, Fed Says

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Janet Yellen, chair of the U.S. Federal Reserve, speaks during a House Financial Services Committee hearing in Washington, D.C., U.S., on Wednesday, June 22, 2016. By offering a subtle change to her outlook from less than a week ago, Yellen on Tuesday before the Senate Banking Committee pushed the prospect of additional interest rate increases further into the future. Photographer: Andrew Harrer/Bloomberg via Getty Images

Janet Yellen, chair of the U.S. Federal Reserve

Fed officials were encouraged by job growth in June

Federal Reserve officials believed that near-term economic risks had diminished and conditions could soon warrant a rate hike.

According to minutes of their July discussions, Fed officials were encouraged by a strong rebound in job growth in June. They also took note of a stabilization of financial markets following a bout of turbulence triggered by Britain’s June 23 vote to leave the European Union.

These officials believed these developments had lessened the near-term risks facing the economy.

The minutes said given the improved economic outlook, officials believe a rate increase “was or would soon be warranted.”

The minutes did not pinpoint a specific date. Some private economists think a rate hike could occur as soon as the next meeting in September, but others believe December is more likely.

fonte Time