WASHINGTON - Federal Reserve officials voted 12 to 0 to raise short-term rates when they met Aug. 16 to review monetary policy, according to minutes of the Federal Open Market Committee that were released on Friday.

The unanimous decision included votes of approval from Fed vice chairman Alan Blinder and board governor Janet Yellen, both appointed earlier this year by President Clinton.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.