Inflation data causes rift in FOMC
Fed officials discuss whether incoming low inflation data is “transitory” or sign of worrying things to come
Minutes from the US Federal Reserve Board’s monetary policy meeting held in June reveal there was a lack of consensus among the Federal Open Market Committee (FOMC) following a wave of conflicting data.
Published on July 5, the minutes reveal officials were split on the outlook on inflation and how it might affect future policy decisions. The Fed chose at the meeting to raise the interest rate range to 1.00–1.25%, with only one member – Neel Kashkari – voting against the decision.
The minutes
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