Fed Hits BRICK WALL | Inflation Second Wave Incoming

U.S. stocks closed mixed after choppy trading Wednesday as investors pored over minutes from the Federal Reserve's last meeting earlier this month for clues on its next move. The latest readout from the U.S. central bank's Jan. 31- Feb. 1 gathering indicated officials were intent on proceeding with "ongoing increases" but open to reaching an endpoint later this year. "Participants concurred that the Federal Open Market Committee had made significant progress over the past year in moving toward a sufficiently restrictive stance of monetary policy," the minutes said. "Even so, participants agreed that, while there were signs that the cumulative effect of the Committee's tightening of the stance of monetary policy had begun to moderate inflationary pressures, inflation remained well above the Committee's longer-run goal of 2% and the labor market remained very tight." Discussions also reflected that most members favored the smaller 0.25% increase delivered during the latest policy decision but some in the group preferred raising rates by 50 basis points.

TOPICS AND TIMESTAMPS:
Fed Meeting 0:00
Charts 4:23
The Takeaway 6:47

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