Fed Minutes Hint at Hikes If Inflation Sticks Around

Fed minutes show many policymakers signaled that further tightening would likely be needed if inflation does not decline, with a few officials advocating a rate hike at the meeting to head off a steeper path later; although July inflation data were modestly encouraging, several officials warned that underlying price pressures and AI-driven wage growth could keep inflation elevated, and Warsh floated reducing the Fed's meetings from eight to six to buy more information between decisions.