Latest Fed discussion reflects more confidence in raising rates

Washington

WHEN Federal Reserve officials convened just before the US presidential election, they talked like people who were ready to raise interest rates although they decided to wait a little longer.

They fretted about the growing risks of keeping borrowing costs at a historically low level, according to an account of the meeting that the Fed published on Wednesday. They also expressed confidence, albeit with some reservations, that the economy was ready for higher rates.