The minutes of FOMC November 1-2 meeting noted, the considerations that would influence the pace of future rate hikes include “the cumulative tightening of monetary policy to date, the lags between monetary policy actions and the behavior of economic activity and inflation, and economic and financial developments”.
“A number of participants” observed that, as monetary policy approached a stance that was “sufficiently restrictive”, it would become appropriate to slow the pace of rates increase.
Also, “a substantial majority of participants judged that a slowing in the pace of increase would likely soon be appropriate”.
