Federal Reserve officials saw that slowing inflation could support a peak in the federal-funds rate this year and emphasized their dependence on data, minutes from their last policy meeting minutes show.
The Federal Open Market Committee, or FOMC, opted to raise its benchmark interest rate by 0.25 percentage point to a target range of 4.50% to 4.75% at its most recent meeting ending Feb. 1, following six-straight larger increases of 0.50 or 0.75 percentage point.