Fed policymakers were nearly unanimous about a 25 basis points rate hike just weeks ago. But the inflation picture has become a lot more daunting

Nearly all Federal Reserve policymakers agreed earlier this month to slow the pace of their rate increases to a quarter-point, with only “a few” supporting a larger half-point hike. The minutes from the Fed’s Jan. 31-Feb.1 meeting said most of the officials supported the quarter-point hike because…

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