The Federal Reserve System’s headquarters in Washington D.C (Source: AFP/VNA)

Many FED officials said another increase in the target range for the federal funds rate will be warranted fairly soon if incoming information on the labor market and inflation is in line with or stronger than current expectations. But a few participants expressed uncertainty about the timing of such increases. A couple of participants noted that the federal funds rate might currently be near its neutral level and that further increases in the federal funds rate could unduly slow the expansion of economic activity.