Since Federal Reserve officials met earlier this month, economic data have shown moderate growth with some signs of slowing inflation amid a still strong labor market.
Federal Reserve officials at their meeting earlier this month concluded that it would soon be appropriate to slow the pace of interest rate increases, signaling the central bank was leaning toward downshifting to a half-percentage-point hike in December.
U.S. stocks and Treasuries rallied while the dollar fell following the report, as investors took a dovish message from the minutes.At the meeting, officials raised the benchmark rate .75 percentage points for a fourth straight time to a range of 3.75% to 4%, extending the most aggressive tightening campaign since the 1980s to combat inflation at a 40-year high.
The Fed said in its policy statement that rates would continue rising to a “sufficiently restrictive” level, while taking account of cumulative tightening and policy lags.
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