The minutes of the FED meeting held on November 8 indicated that the decision to raise rates is very close. The main points of the results of the meeting were as follows:
- The language has been discussed on the gradual rise that the Fed has consistently adopted
- Few members expressed concerns about the timing of the rises
- Many said that in some future meetings it might be appropriate to focus more on the evaluation of the data received
- A framework for long-term monetary policy was discussed, including a shift to targeting the overnight funding rate rather than effective federal funds
- All members stressed that the gradual increase in interest is consistent with the objectives
- Two members indicated that interest rates were close to their neutral levels
- Continuing to raise interest may hinder economic growth and weigh on inflation growth and price expectations
- Some saw global developments as a threat to local growth
