Fed’s minutes reveal it may hike interest rates

Stocks were in red after the Fed’s notes from its last meeting, released yesterday, revealed that the Fed Chair Jerome Powell is considering further rate hikes amid inflation worry.

Officials are concerned that inflation may fail to recede.

At the same time, the officials saw “a number of tentative signs that inflation pressures could be abating.” But since inflation still remained above their 2% target, policymakers would need to see further data that would suggest it was under control.