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Federal Reserve minutes said officials unanimously backed last month's quarter-point rate increase and that most viewed another hike by year-end as likely. The minutes also said future decisions will depend on incoming data.
Participants Offered A Range Of Views For Why They Supported A Rate Hike - Participants Generally Emphasized That Inflation Remained Elevated, Job Market Appeared Near Full Employment - Almost All Participants Saw Inflation Risks Tilted To Upside, Saw Risks To Job Market As Broadly Balanced - Some Participants Saw AI B
Fed minutes: some participants noted treasury market functioning smoothly, emphasized need for planning market stress