FOMC’s January minutes hint at policy actions and inflation fears
Committee signals determination to end asset purchases in March and raise the funds rate
The Federal Open Market Committee was focused on recent job gains and record-high inflation at its January meeting, minutes published on February 16 show.
The committee raised concerns that China’s zero-tolerance Covid-19 policy could negatively impact supply chains, driving up inflation. Geopolitical struggles could raise energy prices and deepen supply shortages still further.
Members also highlighted the possibility of “longer-term inflation expectations becom[ing] unanchored”. Amid these
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