FOMC inching towards rate hike, minutes hint
Labour market looking strong but inflation still a cause for concern
The Federal Open Market Committee (FOMC) is – very cautiously – nearing the point where it will vote for a rate hike, the minutes of its latest meeting, published today (August 20), show.
At the July meeting, FOMC members continued to scour labour market and inflation data for signs the economy might be ready for a hike. One member was willing to vote for a hike but agreed to follow the consensus and wait for further data.
The labour market appears close to the necessary degree of strength, as
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