The eagerly awaited readout of the Nov. 1-2 Fed meeting showed officials were largely satisfied they could now move in smaller steps.
The Fed raised its key rate by three-quarters of a percentage point this month, for the fourth straight time in an effort to tame stiflingly high inflation. The minutes also showed an emerging debate within the Fed over the risks that rapid policy tightening could pose to economic growth and financial stability. At the same time, policymakers acknowledged there had been little demonstrable progress on inflation and that rates still needed to rise.
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