The Fed has released the minutes of the Federal Open Market Committee (FOMC) meeting held on November 1-2.
The minutes of the last meeting, in which the policy rate was increased by 75 basis points to the range of 3.75-4.00 percent, showed that the rate of increase in interest rates may slow down in the upcoming meetings.
“The vast majority of officials stated that it would be appropriate to slow down the rate of increase in interest rates,” the minutes said. expression was used.
It was reported in the minutes that some officials drew attention to the risks arising from rapidly increasing interest rates, while some officials stated that the slowdown in the rate of interest rate hikes may reduce the possibility of possible volatility in the markets.
In the minutes, it was stated that the majority of the officials were undecided about the final interest rate, while it was stated that the said rate could be even higher than the previously estimated level.
It was noted that while the authorities agreed on the lagged effect of monetary policy, there is not enough data yet to show that the inflation pressure has decreased.
In the minutes, it was stated that the possibility of the US economy going into recession within the next year continues to be the main scenario.
The Fed’s next FOMC meeting is scheduled for December 13-14.