FOMC Minutes, 10 August

Minutes from the Federal Reserve's 10 August FOMC meeting released on 24 September showed that with interest rates so low and inflation rising, Fed officials saw the need in coming quarters for a "significant" number of interest rate rises.

"Given the current quite low level of short-term rates, especially when judged against the recent level of inflation, members noted that significant cumulative policy tightening likely would be needed to foster conditions consistent with the FOMC's objectiv

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