FED EYES RAISING RATES 'RELATIVELY SOON'
"Some participants believed that it would be appropriate to raise the target range for the federal funds rate relatively soon," if the economy stays on track, according to minutes released Wednesday from the Fed's meeting in late September. The Fed appeared divided at its September meeting when it decided not to raise interest rates. Three of the 12 voting members on the Fed's committee voted in favor of raising rates -- an unusually high amount of dissent. The Fed's next two-day meeting is November 1-2. However, almost no one believes the Fed will raise rates one week before the U.S. election, even though Fed Chair Janet Yellen stresses that the election doesn't influence its decisions.