Minutes of the Federal Reserve’s December meeting, at which it signaled its intention to reduce monetary support and raise interest rates this year, show members found the economy “much stronger, with higher inflation” than in previous recoveries.
Officials “also observed that the Federal Reserve’s balance sheet was much larger, both in dollar terms and relative to nominal gross domestic product, than it was at the end of the third largest asset purchase program in late 2014.”
“Participants observed that the growth of economic activity appeared to have been strong in the fourth quarter after having slowed in the third quarter, and they generally expected robust growth to continue in 2022,” the minutes showed.
The post Fed’s December Meeting Minutes Found Economy ‘Much Stronger, With Higher Inflation’ originally appeared at U.S. News & World Report.