Central Banks
Fed Minutes Flag High Rates for ‘Some Time’ While Risks Shift
- Officials agree they’re in position to ‘proceed carefully’
- Policymakers note risks of both over- and under-tightening
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Federal Reserve policymakers agreed last month that policy should remain restrictive for some time, while noting that the risks of overtightening now had to be balanced against keeping inflation on a downward path toward 2%.
“Participants generally judged that, with the stance of monetary policy in restrictive territory, risks to the achievement of the committee’s goals had become more two-sided,” according to minutes of the September meeting, released in Washington Wednesday.