Fed minutes of the latest FOMC meeting
Actions taken to calm conditions lowered near-term risks, allowing them to judge a hike as appropriate
Several participants noted they considered whether it would be appropriate to leave rates unchanged
Several participants noted wage growth was still well-above rates consistent with 2% inflatio ntarget
Participants assessed that labor demand is substantially exceeding supply
Generally saw inflation risks tilted higher
Tightening credit was likely to weigh on demand, which could help inflation
Little evidence pointing to disinflation for core services excluding housing
Fed staff forecast a mild recession