# Fed Minutes: Rate Hike Likely This Year

> Federal Reserve officials expect another interest rate increase in 2026 to combat persistent inflation.
- Title: Fed Minutes: Rate Hike Likely This Year · ABC7 New York
- Summary: Federal Reserve officials expect another interest rate increase in 2026 to combat persistent inflation.
- Keywords: federal reserve, interest rates, inflation, fed minutes, rate hike, 2026, central bank, economic policy, news, local, Fed, Minutes
- Source: ABC7 New York — https://abc7ny.com/story/fed-minutes-another-rate-hike-coming-year-combat-persistent-inflation/19929930
- Published: 2026-10-11T17:25:06+00:00
- Read time: 1 min
- Topics: federal reserve, interest rates, inflation, fed minutes, rate hike, 2026, central bank, economic policy, news, local
## Fed Minutes
Federal Reserve officials expect another interest rate increase in 2026 to combat persistent inflation.
## Inflation Still Elevated
The Fed minutes show inflation remains elevated and has not made much progress toward their 2% target in recent months.
## Rate Increase in 2026
The Fed increased its key interest rate by a quarter-point to about 3.9% at its Sept. 15-16 meeting, its first increase in three years.
## Trump Criticizes Fed
President Donald Trump criticized the Fed’s rate-setting committee for voting to raise rates, calling them 'very political'.

> They’re raising rates to make Trump do as bad as they can possibly do
## Economic Impact
Higher rates have lifted costs for groceries, gas, and housing as affordability becomes a leading issue in the upcoming midterm elections.
## Future Rate Hikes
Wall Street investors forecast the Fed will keep rates unchanged at its next meeting Oct. 28-29 but raise them in December.
## Key takeaway

Federal Reserve officials expect another interest rate increase in 2026 to combat persistent inflation.