How the Fed Might Slow Down

“Move fast and break things,” hasn’t been such a great corporate slogan lately. It might not be a very good slogan for Federal Reserve policy, either.

Minutes to the Fed’s September rate-setting meeting, released Wednesday, showed that policy makers remained resolute in their efforts to cool the economy. “Many” of the participants in the meeting said that the costs of doing too little on inflation outweighed the cost of doing too much, according to the minutes, and again “many” stressed the importance of bringing inflation down even as the labor market slowed.