Federal Reserve consensus set on keeping rates higher for longer

Minutes of November meeting

Elliot Gulliver-Needham
clock • 3 min read

The Federal Reserve appears set on keeping interest rates high for the next few months, as it continues its efforts to push US inflation back towards its 2% target.

Minutes from the Fed's last monetary policy decision meeting released on Tuesday (21 November) showed no indication that rates would either be hiked or cut in the near future, instead arguing it was "critical that the stance of monetary policy be kept sufficiently restrictive". "Participants noted that inflation had moderated over the past year but stressed that current inflation remained unacceptably high and well above the committee's longer-run goal of 2%," the minutes said. "They also stressed that further evidence would be required for them to be confident that inflation was clea...

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