The minutes of the two-day meeting last month show that Fed officials concluded higher interest rates could be needed to restrain a worrying trend related to inflation.
Stocks closed higher on Wall Street on Wednesday following the release of minutes from the Federal Reserve's most recent policy meeting.
The S&P 500 rose 0.4%, the Dow Jones Industrial Average gained 0.2% and the Nasdaq rose 0.3%. The Russell 2000 index of small-company stocks remained in the red, a sign that investors are worried about economic growth. The minutes of the two-day meeting last month show that Fed officials concluded higher interest rates could be needed to restrain what they saw as a worrying trend: Consumers starting to anticipate higher inflation. Bond yields rose.
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