US Fed officials say they may need to raise rates 'fairly soon'

Washington

US CENTRAL bankers say they may need to increase the key lending rate "fairly soon", but appear split on the timing amid uncertainty over President Donald Trump's tax and spending policies, the minutes of their last meeting show.

The "hawks" at the Federal Reserve are more concerned about the threat of rising inflation, especially if tax cuts and spending fuel the economy, but the "doves" warn of the risk of raising interest rates based on policies that have not been announced, and whose implications cannot yet be measured.

The Fed officials said their outlook for the economy and interest rates had not changed much since …