The Federal Reserve can stop raising rates before inflation reaches 2% if officials believe price growth will reach the target without another increase. According to NS3.AI, minutes released Oct. 7 said September's unanimous decision lifted the main interest rate to 3.75%-4%.

Most participants expected another increase by year-end, though they disagreed on whether higher rates were precautionary or necessary. Slower price increases alongside stable employment could support a pause, while rising unemployment and broader layoffs would make another increase harder to justify.

The minutes also said holding rates steady would not signal cuts or make financing cheap again.