FOMC Meeting Minutes Suggest a Slowdown in Hiking Rates

FOMC Meeting Minutes Suggest a Slowdown in Hiking Rates

Wednesday’s release of the November 2nd FOMC meeting minutes suggests they are backing off their aggressive tightening agenda. Instead of hiking rates another 75 bps at the upcoming December 14th meeting, we are likely to see only a 50 bps hike. One notable takeaway from the minutes was the references to the difference in support for slowing the pace of tightening now and those raising their estimates of the terminal rate.

Within the notes, a few Fed officials argued it could be “advantageous” to wait to slow the pace of raises until the policy rate was “more clearly in restrictive territory” and that there were clearer signals inflation was slowing. Most of …

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