Monetary policy officials have finally gone a month without tightening but made it clear more action could lie ahead, suggesting it could be awhile before housing finance costs consistently fall.
Bond traders are girding for the risk that Federal Reserve Chair Jerome Powell is ready, willing and able to plunge the U.S. into recession to get the inflation bogey under control.
Federal Reserve officials broadly agreed last month they should start reducing emergency pandemic support for the economy, minutes of the Sept. 21-22 Federal Open Market Committee meeting released Wednesday said.