The Federal Reserve released the minutes of its September rate-setting meeting yesterday, and the dot plot showed that more than 60 percent of officials expect one more rate hike this year, and the median Fed officials' interest rate expectations for next year and two years have increased by 50 basis points. Participants continued to believe that economic growth remained below trend and that a softening in the labor market was needed to restore economic balance. The staff's economic forecasts for the resilience of consumer and business spending were stronger than they had forecast in July; Several participants noted that balance sheet reduction was likely to continue "for some time" even after rate cuts began.