Fed minutes: Officials cited strong hiring to justify hikes
Federal Reserve officials suggested at their most recent meeting that a continuing streak of robust hiring could keep inflation elevated and was a key reason why they expected to raise interest rates this year more than they had previously forecast WASHINGTON -- Federal Reserve officials suggested at their most recent meeting that a continuing streak of robust hiring could keep inflation elevated and was a key reason why they expected to raise interest rates this year more than they had previously forecast. In the minutes of their mid-December meeting released Wednesday, the officials also underscored that a slowdown in their rate hikes — from four three-quarter point hikes in a row to a half-point increase — “was not an indication of any weakening” in their resolve to bring inflation back down to their 2% target. Nor did the smaller increase signal “a judgment that inflation was already on a persistent downward path," the minutes said. Instead, the risks remained that inflati...