The Fed Funds rate was increased by 75 basis points (bps) for the third consecutive meeting at the FOMC meeting on September 21 in order to raise the benchmark rate to 3%-3.25%. The meeting's minutes stated that doing too little is more expensive than doing too much. They also mentioned that in order to lower the excessive inflation, the labour market would need to shrink.
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FOMC Minutes show Fed is serious about inflation

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The Fed Funds rate was increased by 75 basis points (bps) for the third consecutive meeting at the FOMC meeting on September 21 in order to raise the benchmark rate to 3%-3.25%. The meeting's minutes stated that doing too little is more expensive than doing too much. They also mentioned that in order to lower the excessive inflation, the labour market would need to shrink.

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