FOMC Minutes to reveal how big support for higher peak rate could be

The Federal Reserve is expected to show how united policymakers were at their meeting earlier in November over a higher peak for interest rates than previously signaled as they calibrate their fight against decades-high inflation.

At the conclusion of the Nov. 1-2 meeting of the US central bank’s policy-setting Federal Open Market Committee, Chair Jerome Powell told reporters that rates would probably have to go higher than the FOMC’s quarterly projections in September had indicated.