Some Federal Reserve policymakers said at their most recent meeting that the economy appeared ready for another small increase in a key interest rate, according to an account released Wednesday. Policymakers voted, 9-1, at the meeting to hold the benchmark federal funds rate steady at between 0.25% and 0.5%. But the minutes indicated that a rate hike will be on the table at the Fed’s next monetary policy gathering Sept. 20-21. Esther George, president of the Federal Reserve Bank of Kansas City, cast the only vote against holding the rate steady in July. But the minutes showed that she wasn’t the only member of the policymaking Federal Open Market Committee who favored a rate hike then or in the coming weeks.

Source: Los Angeles Times August 17, 2016 18:47 UTC