Fed Minutes Show Deepening Inflation Concerns
Federal Reserve minutes reveal that policymakers grew more concerned about persistent inflation at their July meeting. Several officials supported a rate increase while others warned further tightening may be needed.
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Federal Reserve officials grew more concerned about inflation at their July gathering, with several policymakers ready to raise borrowing costs from the current 3.50%-3.75% range. The minutes from the July 28-29 session show that three officials dissented in favor of a quarter-percentage point rate hike. The shift highlights growing friction within the central bank over persistent price pressures.
