An analyst at ING Groep mentioned in a report that the market's response to the September Federal Reserve meeting minutes was subdued on Wednesday, as short-term interest rates in the USA have already adjusted significantly since the end of last month. They stated: "Over the past few weeks, the final rate set by the Fed for this easing cycle has been repriced, increasing by 50 basis points." They added that short-term bond yields have moved in favor of the US dollar, and the Fed's meeting minutes did not indicate an urgent need for rate cuts. "There's no strong signal indicating how quickly rates will decrease to a relatively lower restrictive level, of course, the pace of future rate cuts will depend on data."