At their last meeting, Federal Reserve officials displayed division on interest rates. Some members favored more increases, while others expected a growth slowdown to eliminate the need for further tightening. The minutes revealed disagreement on the next move, suggesting a shift towards less aggressive policy. Ultimately, the rate-setting Federal Open Market Committee unanimously decided to remove a key phrase indicating potential future policy firming. The Fed seems to be adopting a data-dependent approach to determine the continuation of rate hikes.
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