Fed officials bent on lowering inflation

WASHINGTON, D.C.: Federal Reserve (Fed) officials emphasized their "strong commitment and determination" to bring inflation in the United States under control, including with more big interest rate increases, according to the minutes of their latest policy meeting released on Wednesday (Thursday in Manila).

With US inflation rising at its fastest pace in nearly four decades, the Fed's policy committee early this month hiked the key rate by a half point — the biggest increase since 2000 — and most members said similar increases "would likely be appropriate at the next couple of meetings."