FOMC minutes give Fed 'leeway to ease up' on rate hikes -strategist

STORY: All participants at this month's meeting backed a half-percentage-point rate increase to combat inflation they agreed had become a key threat to the economy's performance and was at risk of racing higher without action by the U.S. central bank, minutes of the session showed on Wednesday.

"The Federal Reserve really has to move aggressively early in the cycle to play catch-up with that higher inflation rate," said Schlossberg, referring to the view of Fed policymakers, according to the minutes. "But in so doing, they may provide leeway for themselves to throttle back a bit on the size of those rate increases and, perhaps, the timing."