FOMC

Many Federal Reserve policymakers worried about low inflation and some want to feel more confident inflation is moving higher before raising rates again.

Maintaining that gradual rate hikes remain the best course for the economy, Federal Reserve Bank of Kansas City President Esther George said Wednesday the Federal Open Market Committee “is, by historical standards, meeting the dual mandate.”

Federal Reserve Bank of Chicago President Charles Evans said weak inflation in the U.S. may not be entirely due to temporary factors.

Federal Reserve Governor Jerome Powell has canceled plans to speak at an event in Boston on Friday, a move the central bank described as a routine change in schedule.

Investors now see roughly an 80% chance of a hike at the Fed’s gathering in December.

Randal Quarles was confirmed 65-32 as a Fed governor, and by voice vote as the vice chairman of banking supervision.

Federal Reserve Vice Chairman Stanley Fischer continues to expect a tightening U.S. labor market to lift wages and prices.

Federal Reserve Governor Jerome Powell deflected questions about his interest in succeeding Janet Yellen at the helm of the U.S. central bank when her term as chair expires on Feb. 3, 2018.

Paul Mortimer-Lee, chief market economist at BNP Paribas, discusses the leadership of the Fed and possible replacements for Janet Yellen.

The Federal Reserve should not raise rates again until inflation is at the 2% target, unless unemployment falls dramatically, Federal Reserve Bank of Minneapolis President Neel Kashkari wrote in an essay published Monday.