US stocks fall as Fed minutes show officials think hot inflation could still require more rate hikes

• US stocks closed lower on Wednesday after Fed minutes showed officials remain worried about inflation. 
• Policymakers at the July meeting agreed that inflation still poses risk of a resurgence. 
• Markets have been confident in their belief that the July rate hike was the last of the Fed’s cycle. 

US stocks ended lower on Wednesday after minutes from the last Federal Reserve meeting indicated that central bankers think inflation is still high enough to potentially warrant more interest rate hikes. 

The minutes of the July Federal Open Market Committee meeting come as markets have been feeling confident that July’s 25-basis-point rate increase marked the final hike of the Fed’s aggressive monetary policy tightening cycle.