Monetary policy: Fed minutes: Inflation concerns at US central bank increase
The Fed is facing a change in course: Several central bankers wanted to raise interest rates as early as July. Investors now expect a move in October.
The US Federal Reserve's concerns over inflation increased at its July meeting, according to the minutes released on Wednesday. Several policymakers were willing to raise interest rates, citing the need to meet the Fed's 2% inflation target. At the July 28-29 meeting, the Fed kept the benchmark interest rate at 3.50-3.75%, but three members voted for a quarter-point increase.
The minutes also showed that Fed Chairman Kevin Warsh requested a review of the central bank's meeting schedule, potentially reducing it from eight to six meetings per year.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
