Federal Reserve meeting minutes: Divergence over the case for rate hikes; one more rate increase may come this year.

At 2 a.m. Beijing time on Thursday, the Federal Reserve released the minutes of its September policy meeting. The minutes show that there were divisions within the Fed over how to characterize that rate hike: some viewed it mainly as a precautionary move, while others saw it as signaling a significant tightening of monetary policy aimed at curbing investment and consumer spending. Most Fed officials believed that another rate hike this year was likely still needed. Although the market expects the Fed to hold steady this month, some members' concerns about prices mean the vote could produce several dissenting votes.