Minutes released Wednesday of the Federal Reserve's November 2-3 meeting revealed officials discussing inflation, and what the central bank could do to help.
In minutes released Wednesday from a Federal Reserve meeting earlier this month, officials acknowledged the rise in prices across the economy has been larger than they anticipated and reiterated their belief that the inflation would be temporary, according to the Associated Press.
The vote approved the Fed reducing the amount of Treasury bonds and mortgage-backed securities it had previously been purchasing to keep long-term interest rates low. Fed Chairman Jerome Powell said the purchases are less necessary as the economy is in recovery mode coming out of the pandemic, and reducing the purchases could counter the inflation and price spikes that have occurred across the country in recent weeks.
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