FED SIGNALS MORE HIKES: Officials Warn Inflation Still Elevated, Rate Cuts Unlikely...

Federal policymakers signaled in recent meeting minutes that they expect at least one more interest rate increase before year's end, citing persistent inflation as the main barrier to lowering rates. The decision reflects officials' assessment that price pressures remain above their 2 percent target despite months of aggressive monetary tightening. Markets had been pricing in rate cuts as soon as this fall, but the Fed's stance suggests borrowers will face higher borrowing costs for longer than many expected.