U.S. 'Approaching' Conditions for Interest Rate Hike: Fed Minutes

August 19, 2015 9:33 PM

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Conditions for a rate increase are "approaching" though not at hand, according to the minutes from the most recent Federal Reserve meeting released Wednesday.

Policymakers at the U.S. central bank's Open Market Committee said at the July session that conditions hadn't been achieved yet for the first interest rate increase in nearly 10 years, due primarily to inflation that is not yet moving toward the necessary conditions.

Also read: U.S. Consumer Spending Rises at More Moderate Pace, Incomes Jump

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