The Minutes of the Fed's Last Meeting Have Been Released

The Fed has released the minutes of the Nov. 1-2, 2022 meeting of the Federal Open Market Committee (FOMC).

The minutes of the latest meeting, in which the policy rate was increased by 75 basis points to the range of 3.75% - 4.00%, show that the Fed officials think slowing down the pace of interest-rate increases soon would be appropriate. In the minutes, there was also a warning that the probability of a recession had risen to about 50% for the first time since the start of interest rate hikes in March. 

On the other hand, while the officials have agreed on the lagged effect of monetary policy, it is stated that there is not enough data yet on the decrease in inflation pressure.

The last FOMC meeting of the Fed in 2022 is scheduled for Dec. 13-14.