Fed officials stress ‘determination’ to bring down inflation

WASHINGTON: US central bankers stressed their “strong commitment and determination” to bring inflation under control with a series of interest rate increases, according to the minutes of the latest policy meeting released Wednesday.

While the world’s largest economy is in a solid position, the Federal Reserve must move “expeditiously” to increase the benchmark borrowing rate and offload the massive bond holdings to tamp down inflation.

Fed hikes rates, signals aggressive turn against inflation

The Fed’s policy committee early this month hiked the key rate by a half point, and most members said similar increases “would likely be appropriate at the next couple of meetings.”