- The Fed’s meeting minutes said that almost all of them agreed to an increase of 0.25% last time
- The need to control inflation is likely to mean further hikes
- Indices rose: Dow 0.01%, Standard & Poor’s 0.16%, Nasdaq 0.4%
(Reuters) – Major indices were flat on Wall Street on Wednesday, following the release of minutes from the US Federal Reserve’s latest policy meeting.
Minutes from the Fed from January 31 to February. The first meeting said that “almost all Fed officials agreed to slow the pace of interest rate increases to a quarter of a percentage point.
There was also strong support for the belief that higher inflation risks remain a ‘major factor’ that will shape monetary policy and that further rate hikes will be necessary to bring them under control.
After choppy trading for most of the day, the major indices entered the minutes release, posting slight gains. These developments were realized after the latest Federal Reserve commentary was issued.
By 2:12 PM ET (1912 GMT), the Dow Jones Industrial Average rose 4.54 points, or 0.01%, to 33,134.13, and the S&P 500 (.SPX) rose 6.22 points, or 0.16%, to 4,003.56. The Nasdaq Composite Index (.IXIC) rose 45.91 points, or 0.4%, to 11,538.21.
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Additional reporting by Johan M. Cherian and Medha Singh in Bengaluru and David French in New York; Editing by Margarita Choi
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