FOMC split over inflation forecasts, minutes show
Participants expressed concern that low inflation this year might reflect not only transitory factors
Members of the Federal Open Market Committee were split over their inflation forecasts at the latest monetary policy meeting on September 19–20, the latest minutes show.
“About half projected that inflation would be equal to the committee’s objective in 2019 and 2020; others projected that inflation would run a little above or below the committee’s objective in one or both of those years,” the minutes say.
The committee left the federal funds rate unchanged at 1.25% and confirmed the unwinding
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