FOMC divided on how to proceed with policy
Strong jobs growth, but below-target inflation leaves committee split on correct course of action
Mixed data and the continuing puzzle of low wage growth has left the US Federal Open Market Committee (FOMC) split on how to proceed with policy tightening, the minutes of the committee’s latest meeting show.
Inflation in the US has been on a downward trend since a peak of 2.2% in February, and slipped to 1.4% in June. Meanwhile, jobs growth continues to be strong – the latest non-farm payroll data shows the economy added 209,000 jobs in July, with unemployment at just 4.3%. The strong
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