Market Wire: Fed minutes tilt dovish, lifting majors against the dollar
Policymakers on the Federal Reserve’s policy-setting committee are convinced rates will need to rise more than had been expected in September, but are preparing to moderate the pace of increases in coming months as they seek to assess the impact on the economy. According to a record of the group’s early November meeting published this afternoon, many participants felt there was considerable uncertainty around how high the federal funds rate would need to climb, but “various participants” warned that with inflation remaining high against a backdrop of continued supply and demand imbalances, the ultimate level was “somewhat higher than they...