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Fed Officials Signal Willingness to Raise Interest Rates Amid Inflation Concerns

Some U.S. Federal Reserve officials indicated a readiness to raise interest rates if inflation becomes more aggressive, according to the last Federal Open Market Committee meeting. Despite recent cooler-than-expected inflation data, the meeting reflects persistent concerns about inflation. The Fed kept rates at a 23-year high of 5.25% to 5.5%. Officials suggested maintaining higher borrowing costs longer if inflation remains above the 2% target. Market expectations for rate cuts by the end of 2024 remained unchanged after the release of the meeting minutes.