The Fed could begin reducing the pace of its monthly asset purchases as soon as mid-November, according to minutes from the September meeting.
"That would be pretty aggressive," she said. "There must be some outspoken people who are pretty concerned that they need to move even faster."that he thinks tapering should be more aggressive in case the Fed needs to rate interest rates next year to combat persistent inflation.
The committee also released the summary of its economic expectations, including projections for GDP growth, inflation and unemployment. Members scaled back their GDP estimates for this year but upped their outlook for inflation, and indicated they expect unemployment to be lower than earlier estimates.In the "dot plot" of individual members' expectations for interest rates, the committee indicated it could begin raising interest rates as soon as 2022.
However, some members at the meeting showed concern that current inflation pressures might last longer than they had anticipated. Traders are pricing in a 46% chance of two rate hikes in 2022.
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