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Fed Minutes Show Most Officials Favored Slowing Rate Rises Soon
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WASHINGTON—Most Federal Reserve officials thought they should slow the pace of interest-rate increases after approving a fourth consecutive 0.75-percentage-point rate rise at their meeting earlier this month.
Officials approved the latest super-sized rate increase at their Nov. 1-2 meeting, bringing their benchmark rate to a range between 3.75% and 4%. They are boosting interest rates at the fastest pace since the early 1980s to reduce inflation that is running near a 40-year high.
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