Photo: The Marriner S. Eccles Federal Reserve building in Washington, D.C. Photographer: Stefani Reynolds/Bloomberg The Marriner S. Eccles Federal Reserve building in Washington, D.C. Photographer: Stefani Reynolds/Bloomberg

Federal Reserve officials appear on track to extend their run of interest-rate hikes when they meet next month, shrugging off their advisers’ warnings of recession with a bet that they need to do a little more to curb inflation.

Minutes of last month’s policy meeting show that officials dialed back expectations of how high they’ll need to lift rates after a series of bank collapses roiled markets last month. Still, officials raised their benchmark lending rate a quarter point, to a range of 4.75 percent to 5 percent, as they sought to balance the risk of a credit crunch with incoming data showing price pressures remained too high.

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