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Fed prepared to hike interest rates if inflation remains elevated, minutes show

Federal Reserve officials raised concern last month about hotter-than-expected inflation and signaled they could raise interest rates if consumer prices continue to soar

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Fed officials expressed concern about high inflation

By Megan Henney

FOXBusiness

Federal Reserve officials raised concern last month about hotter-than-expected inflation and signaled they could raise interest rates if consumer prices continue to soar.

Although Fed policymakers in November left interest rates at the rock-bottom level where they have sat since March 2020, when COVID-19 forced an unprecedented shutdown of the nation’s economy, they voted unanimously to start gradually reducing the Fed’s $120 billion in monthly bond purchases by $15 billion in November and December. Under that pace, the program would conclude by next June.

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https://www.foxbusiness.com/economy/federal-reserve-interest-rates-inflation-meeting-minutes

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