Most FOMC participants say they may raise rates ‘soon’, minutes show
Data show US unemployment falling to lowest point since December 2000
Many senior Federal Reserve officials think they should soon be able to resume tightening monetary policy, according to minutes of the Federal Open Market Committee’s (FOMC) May meeting.
“Most participants judged that if incoming information broadly confirmed their current economic outlook, it would likely soon be appropriate for the committee to take another step in removing policy accommodation,” the minutes say.
The FOMC decided to hold the federal funds rate in a range between 1.5% and 1
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