The Fed’s September FOMC minutes have been released.
The US Federal Reserve released the minutes of its September meeting.
FOMC Minutes Published
After the Fed hiked interest rates, the FOMC minutes for September were also released.
Headlines from the minutes are as follows:
“Participants agreed that it would be appropriate at some point to slow the rise in interest rates while assessing the cumulative effects of current economic policy.
Fed officials determined that they needed to implement a more restrictive policy in order to meet the rising inflation targets.
Many participants raised their assessments of the federal funding needed to meet the committee’s goals.
Many respondents indicated that once the policy has reached a sufficient restrictive level, it is necessary to keep it at the same level for a while.
Participants stated that the speed of tightening is of critical importance in order to reduce the risk of adverse effects on the economic outlook.
Participants noted the importance of maintaining the restrictive policy for as long as necessary.
Despite the slowing labor market, authorities are determined to raise interest rates.
Currency tightening policies in other countries can have various effects on the US economy.
In September, the US Federal Reserve’s revenues fell as expected.
Inflation is declining more slowly than anticipated.
