Federal Reserve officials expect to keep interest rates at a restrictive level for "some time," according to the minutes of the central bank's latest monetary policy meeting.
The minutes of the October 31-November 1 meeting, released Tuesday afternoon, said participants agreed policy should remain restrictive until inflation is clearly moving down sustainably toward the Fed's 2 percent objective.
Following the recent series of interest rate hikes, participants also agreed to proceed carefully and take a data-dependent approach to future policy decisions.
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May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.