Financial markets interpreted the minutes of the Fed's December meetings as unequivocally hawkish.
Already-hot inflation is forecast to climb even further when November data comes out on Friday, to 6.8%.
Incomes are beating inflation for now, but that race isn't over yet.
Higher interest rates may be coming whether or not the Fed chooses to raise its benchmark rate.
The FOMC decided to maintain the target range for its benchmark policy rate at zero to 0.25%.
The economy has made "substantial" progress in meeting the Fed's inflation goals, Fed Chair Jerome Powell said.
Quantitative easing helps keep housing costs low, said the New York Fed president.
The Fed should begin tapering off its asset buying well before any rate hike is enacted, said Williams.
St. Louis Fed President James Bullard expects rates to rise late next year.
The central bank held the target range for its benchmark policy rate unchanged at zero to 0.25%.
Please log back in before proceeding.
There was an error logging in. Please try again.
Congrats! You are now logged in. Your exam is being submitted.
