Fed Minutes predict a 'soon' slowdown in interest rate hikes and a 'likely' recession in 2023

According to meeting minutes disclosed Wednesday, Federal Reserve officials agreed in November that they would need to halt the pace of interest rate rises shortly.

While noting that inflation had not yet showed significant indications of abating, the minutes stated that "a strong majority of participants felt that a reduction in the pace of increase would likely soon be appropriate."

"In these circumstances,....