After the inflation came in below expectations for October, Federal Reserve officials indicated that the central bank should soon moderate the pace of interest rate hikes. The market widely expects a 50 basis points hike in December.
“A substantial majority of participants judged that a slowing in the pace of increase would likely soon be appropriate. A slower pace in these circumstances would better allow the Committee to assess progress toward its maximum employment and price stability goals,” according to the Fed’s latest meeting minutes.
