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US Federal Reserve officials expect interest rates will need to remain high "for some time" to tackle stubborn inflation, according to minutes of the most recent rate decision published on Wednesday.In December, the Fed's rate-setting committee "reaffirmed that it would be appropriate for policy to remain at a restrictive stance for some time until inflation was clearly moving down sustainably" towards target, according to minutes of the meeting published Wednesday.

Wall Street stocks were in the red early on Wednesday following a mixed first session for 2024 saw the Nasdaq Composite turn its worst daily decline in almost three months.

Shares of banks and other financial institutions fell slightly after minutes from the Federal Reserve December meeting left open the question of when the...

Federal Reserve officials said in December that it was possible the economy could evolve in a manner that would make further rate hikes appropriate.

US Federal Reserve officials expect interest rates will need to remain high "for some time" to tackle stubborn inflation, according to minutes of the most recent rate decision published on Wednesday.