Fed officials express resolve to address inflation risks

By MARTIN CRUTSINGER
AP Economics Writer

WASHINGTON (AP) — Federal Reserve officials in discussions earlier this month said the central bank “would not hesitate” to take appropriate actions to address inflation pressures that posed risks to the economy. In minutes released Wednesday of the Fed’s Nov. 2-3 meeting, Fed officials maintained that the spike in inflation seen this year was still likely to be transitory while acknowledging that the rise in prices had been greater than expected. The minutes covered a meeting in which the Fed voted to take the first steps to roll back the massive support it has provided to the economy struggling to recover from a global pandemic.