Fed Minutes Reveal Divisions and Market Dips, Traders Call for Rate Hikes

The release of minutes from the Federal Reserve's June policy-setting meeting has caused markets to dip as investors speculate on the number of future rate hikes. While the pace of rate hikes is expected to slow, central bankers still anticipate further increases. Concerns about persistent inflation suggest that the recent pause in rate hikes may not mark the end of tight monetary policy. Crypto assets, including bitcoin and ether, experienced slight declines, while equities also dipped slightly. Traders are anticipating a 25 basis point increase at the Fed's next policy-setting meeting, with an 89% likelihood priced in by the markets.