FOMC minutes show divisions on monetary policy
Kansas Fed president Esther George voted for immediate rate rise
Minutes of the July 26–27 meeting of the Federal Reserve's Federal Open Market Committee (FOMC) show that members are split on whether or not monetary policy should be tightened in the near future.
One member of the FOMC, Kansas Fed president Esther George, had it placed on record that the Fed should have tightened policy rates by 25 basis points at the meeting. But other FOMC members argued strongly that the available data pointed to a need to keep monetary policy loose for the foreseeable
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