The Federal Reserve is committed to fighting inflation with more rate hikes according to February's minutes.
This comes as inflation remains "well above" the Fed's 2% target, and the labor market is "tight" despite the Fed's rate hike cycle.
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The minutes revealed that some members were favoring a 50 basis point hike, despite the minutes revealing that the 25 basis point hike was unanimous.
According to the minutes, “the participants favoring a 50-basis point increase noted that a larger increase would more quickly bring the target range close to the levels they believed would achieve a sufficiently restrictive stance, taking into account their views of the risks to achieving price stability in a timely way."
Reading into the minutes shows that the Fed knows that there's still a ways to go in order to get inflation under control.
Outside of the Fed, investors are still paying close attention to earnings to get a better grasp on how companies are navigating the macro environment.
Nvidia posted fourth-quarter earnings that impressed Wall Street beating expectations on both earnings and revenue.
Not surprisingly, CEO Jensen Huang made comments on both gaming and artificial intelligence in the company's press release.
“We are set to help customers take advantage of breakthroughs in generative AI and large language models. Our new AI supercomputer, with H100 and its Transformer Engine and Quantum-2 networking fabric, is in full production," he said.
On gaming, Huang noted, "Gaming is recovering from the post-pandemic downturn, with gamers enthusiastically embracing the new Ada architecture GPUs with AI neural rendering."
