Federal Reserve officials are barreling toward another interest-rate rise of 75 bps at their meeting in November and are likely to debate then whether and how to signal plans to approve a smaller increase in December, writes Nick Timiraos - chief economics correspondent at The Wall Street Journal.

Timiraos highlights a divide in the Fed, with few officials signalling greater unease with big rate rises to fight inflation. Some Policymakers also want to stop raising rates early next year to see how their moves this year are slowing the economy and to reduce the risk of causing an unnecessarily sharp slowdown.

The markets react positively to the article, which is evident from a goodish recovery in the equity markets, forcing the safe-haven US dollar to trim a part of its intraday gains.