FOMC officials cite disinflation in explaining policy shift
While no member saw an appreciable risk of deflation, some judged that the risk of further near-term disinflation had increased somewhat, minutes of the Federal Open Market Committee (FOMC) meeting in August, published Tuesday, showed.
More broadly, members generally saw both employment and inflation as likely to fall short of levels consistent with the dual mandate for longer than had been anticipated.
The August meeting saw FOMC officials pledge to reinvest the proceeds of their purchases of
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