US interest rates are likely to increase again before the end of 2026, the minutes of the Federal Reserve’s latest meeting showed. All members of the rate-setting committee voted in favour of a 25 basis-point rate hike to 3.75%-4.0% in September, and “most” felt that another hike “would likely be appropriate by year end”. They agreed that inflation risks were “skewed to the upside” – more likely to rise than to fall – though the unemployment rate is expected to remain stable, and economic activity was expanding at a solid pace. Wall Street profits hit $45.9 billion in the first half of this year, up 51% from the same period last year, according to a report from the New York State Comptroller, the state’s financial watchdog.
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