Fed Adopts More Cautious Stance Amid Economic Uncertainty and Slowing Growth
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Fed officials adopted a more cautious stance in September as economic uncertainty grew, according to meeting minutes.
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Policymakers wrestled with risks to growth from slowing global growth, labor strikes, tightening financial markets.
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Officials noted the recent rise in Treasury yields may slow the economy and inflation, reducing the need for more rate hikes.
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Debate shifted from how much higher to raise rates to how long to keep policy restrictive.
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All agreed policy should remain restrictive for some time until inflation is clearly moving down towards the 2% target.
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