the Fed plans several more half-point hikes

US central bank officials are determined to bring inflation down sharply with these hikes.

US central bank officials have said they are determined to bring inflation down sharply, and most of them estimated at their last meeting in early May that several more half-point rate hikes will be “probably necessary”.

Half-point increases, faster than the usual quarter-points, will be “undoubtedly appropriate in future meetings”, according to the minutes of the meeting in early May, published on Wednesday.

These officials want to “quickly bring monetary policy back to a neutral path”, which does not stimulate or slow down the economy, or even if necessary, adopt a more severe policy, which could weigh on growth.

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