7 October 2026 | 4:51PM EDT Economics Research USA: FOMC Minutes Note "Most" Participants Saw Another Increase as Likely "Appropriate by Year End," but Committee Will Approach BOTTOM LINE: The minutes to the FOMC's September meeting showed that "all" participants supported raising the target range for the federal funds rate by 25bp to 3.75-4%, judging that progress on lowering inflation had not been "sufficient." "Almost all" participants assessed that risks to inflation were "tilted to the upside," while r ...