Economics
Fed Officials Stressed Flexibility on Taper Pace at Last Policy Meeting
- Need for flexibility stressed, including on rate-hike timing
- Many worried about persistent inflation before latest data
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Federal Reserve officials at their last meeting were open to removing policy support at a faster pace to keep inflation in check, even before data showed price pressures accelerating.
“Various participants noted that the Committee should be prepared to adjust the pace of asset purchases and raise the target range for the federal funds rate sooner than participants currently anticipated if inflation continued to run higher,” according to minutes released Wednesday of the Nov. 2-3 meeting of the Federal Open Market Committee.