A majority of Fed participants said that one more increase in the target federal funds rate at a future meeting would likely be appropriate, according to the minutes from September’s Federal Open Market Committee Meeting that were revealed Wednesday. Most participants expressed concerns about potential upward pressures on inflation due to increasing energy prices, which could reverse some of the recent disinflationary trends, or the possibility that inflation might exhibit more sustained persistence than initially anticipated. At its September 2023 meeting, the Federal Reserve maintained the federal funds rate target range at 5.25%-5.5%, as expected. Yet the Fed hinted at the possibility of an additional rate hike later in the year as indicated by the latest dot plot. . . #fomc #federalreserve