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US growth slowdown ‘required’ to beat inflation: Fed minutes

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A slowdown of economic growth and the US job market will be “required” to bring down inflation, the Federal Reserve said in notes released Wednesday, adding that the level is “unacceptably high.”

Fed officials also said inflation has “not yet responded” to increased interest rates, according to minutes of the US central bank’s September meeting, and that “a significant reduction in inflation would likely lag that of aggregate demand.”

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Agence France-Presse (AFP) is a French international news agency headquartered in Paris, France. Founded in 1835 as Havas, it is the world's oldest news agency.

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