Federal Reserve minutes may show mixed opinions amidst its members
Federal Reserve officials have a wide spectrum of opinions on what to do about inflation that continues to run exceedingly hot. Speaking with CNBC’s Closing Bell, Loretta Mester, Cleveland’s Federal Reserve President said that the pace of rate hikes could be slowed, but inflation figures were not yet convincing enough to stop the hikes entirely.
The article in Bloomberg News also said, “Several Fed officials have signaled they may consider a 50 basis-point increase at their next meeting in mid-December, with the final decision depending on what happens with the economy.” According to the CME’s FedWatch tool, there is a 75.8% probability that the Federal Reserve will initiate a rate hike in December of only 50 basis points, breaking the cycle of raising rates by 75 basis points as they have done during the last four consecutive FOMC meetings. The probability of a 50-basis point rate hike in December is slightly lower than the probability assessed 24 hours ago of 80.6%.
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