WASHINGTON—Federal Reserve officials in discussions earlier this month said the central bank “would not hesitate” to take appropriate actions to address inflation pressures that posed risks to the economy. In minutes released Wednesday of the Fed’s Nov. 2-3 meeting, Fed officials maintained that the spike in inflation seen this year was still likely to be transitory while acknowledging that the rise in prices had been greater than expected. The minutes covered a meeting in which the Fed voted to take the first step to roll back the massive support it has provided to an economy pushed into a recession last year after widespread lockdowns to contain the COVID virus. At the November meeting, the Fed approved reductions in the amount of Treasury bonds and mortgage backed securities it had been purchasing to put downward pressure on long-term interest rates. The committee approved reducing by $15 billion in November and another …