KEY POINTS
  • A summary of the Sept. 25-26 Federal Open Market Committee session was released Wednesday. 
  • "Participants generally anticipated that further gradual increases in the target range for the federal funds rate would most likely be consistent with a sustained economic expansion, strong labor market conditions, and inflation near 2 percent over the medium term," the minutes read.
  • Members said in the meeting notes that there might be a period where the Fed even will need to go beyond normalization of rates and into a more restrictive stance.
  • The Fed voted for a quarter-point hike to its benchmark rate target at that meeting.

Federal Reserve officials remain convinced that continuing to gradually increase interest rates is the best formula to preserve a steady economy, according to minutes released Wednesday of the central bank's most recent policy meeting.

That may not please President Donald Trump, who has been vocal in his criticism of the central bank's actions.