Many officials said they had raised their assessments of the path of interest rate increases that would likely be needed to achieve the committee's goals.
Ultimately, they do think that you need to reach some very high interest rates in order to really cool down the economy.
While inflation has peaked, the path to a 2% inflation rate will be long, windy and bumpy."
"The Federal Reserve's current tone suggests it is committed to raising interest rates until the snake of inflation is dead."
CHRIS ZACCARELLI, CHIEF INVESTMENT OFFICER, INDEPENDENT ADVISOR ALLIANCE, CHARLOTTE, NC"For the most part there's nothing to earth shattering in the Fed minutes.