The recently released meeting minutes of the Federal Reserve showcased a division among officials regarding the necessity of further interest rate increases. While some members advocated for additional hikes, others suggested a gradual reduction, according to Economies.com.
In the previous month, the Federal Reserve had raised interest rates by 25 basis points. However, the minutes highlighted the contrasting opinions on the future direction, indicating a likelihood of a pause in policy tightening.
During the meeting, the Federal Open Market Committee made a notable revision by eliminating a significant statement from the agenda, which previously emphasized the importance of maintaining current monetary policies.
The Federal Reserve is now placing greater reliance on fresh data to inform its next course of action.
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