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U.S. Federal Reserve Chair Jerome Powell responds to a question from David Rubenstein (not pictured) during an on-stage discussion at a meeting of The Economic Club of Washington, at the Renaissance Hotel in Washington, D.C., U.S, February 7, 2023.  Amanda Andrade-rhoades | Reuters Federal Reserve officials at their most recent meeting indicated that there are signs inflation is coming down, but not enough to counter the need for more interest rate increases, meeting minutes released Wednesday showed. While the Jan. 31-Feb. 1 meeting concluded with a smaller rate hike than most of those implemented since early 2022, officials stressed that their concern over inflation is high. Inflation "remained well above" the Fed's 2% target, the minutes stated. That came with labor markets that "remained very tight, contributing to continuing upward pressures on wages and prices." Consequently, the Fed approved a 0.25 percentage point rate increase that was the smallest ...

watch now VIDEO 2:05 02:05 Majority of Fed favors slowing pace of tightening soon Power Lunch Federal Reserve official s earlier this month agreed that smaller interest rate increases should happen soon as they evaluate the impact policy is having on the economy, meeting minutes released Wednesday indicated. Reflecting statements that multiple official s have made over the past several weeks, the meeting summary pointed to small rate hikes coming . Markets widely expect the rate-setting Federal Open Market Committee to step down to a 0.5 percentage point increase in December, following four straight 0.75 percentage point hikes . Though hinting that smaller moves were ahead, official s said they still see little signs of inflation abating. However, some committee members expressed concern about risks to the financial system should the Fed continue to press forward at the same aggressive pace. "A substantial majority of participants judged that a slowing in the pace of increase...