Federal Reserve officials are preparing to move quicker than the last time they tightened monetary policy in a bid to keep the U.S. economy from overheating amid high inflation and near-full employment.
Prospects for another year of growth above the economy’s speed limit with inflation already strong -- along with a larger balance sheet that’s suppressing longer-term borrowing costs -- “could warrant a potentially faster pace of policy rate normalization,” minutes from the Dec. 14-15 Federal Open Market Committee meeting said Wednesday.
