US Fed minutes show more disputes on rate-hike

The Federal Reserve officials' disputes on the timing to raise interest rate may intensify in the future as job market improved and inflation expectation rose.
Last month the Fed maintained its pace of reducing accommodative monetary policy, which is expected to raise the interest rates by the middle next year after its July meeting.
However, many participants have showed willingness to speed up the pace if economy improves faster, according to the minutes of its July meeting released on Wednesday.
"Many participants noted that if convergence toward the Committee's (the Fed's) objectives occurred more quickly than expected, it might become appropriate to begin removing monetary policy accommodation sooner than they currently anticipated," said the minutes.
Participants generally agreed that labor market conditions had moved noticeably closer to those viewed as normal in the longer run, while the risks of inflation running persistently below their objective of 2 percent has diminished somewhat.
Some participants even asked for "a relatively prompt move toward reducing policy accommodation", while most participants still wanted to see "further information on the trajectories of economic activity, the labor market, and inflation," said the minutes.