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MNI: Fed Says Likely Appropriate To Slow Hikes 'At Some Point'

(MNI) Washington

Fed meeting minutes emphasize data dependency in push to restrictive territory.

Federal Reserve officials officials emphasized data dependency when it comes to future rate rises but made clear the FOMC intends to move policy to a restrictive setting while potentially moving in smaller steps going forward, the minutes from the July meeting showed.

"In light of elevated inflation and the upside risks to the outlook for inflation, participants remarked that moving to a restrictive stance of the policy rate in the near term would also be appropriate from a risk-management perspective because it would better position the Committee to raise the policy rate further, to appropriately restrictive levels, if inflation were to run higher than expected," the minutes said.

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Federal Reserve officials officials emphasized data dependency when it comes to future rate rises but made clear the FOMC intends to move policy to a restrictive setting while potentially moving in smaller steps going forward, the minutes from the July meeting showed.

"In light of elevated inflation and the upside risks to the outlook for inflation, participants remarked that moving to a restrictive stance of the policy rate in the near term would also be appropriate from a risk-management perspective because it would better position the Committee to raise the policy rate further, to appropriately restrictive levels, if inflation were to run higher than expected," the minutes said.

Keep reading...Show less