US Fed expects interest rates to stay high 'for some time': minutes

All members of the US Federal Reserve’s powerful rate-setting committee judged earlier this month that it would be appropriate to keep interest rates high “for some time” in order to tackle inflation, minutes of the meeting released Tuesday show.

On November 1, the Fed announced it was holding interest rates at a 22-year high for a second straight meeting, as it looks to bring inflation firmly down to its long-term target of two percent without damaging the strong economy.

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