Economics
Fed Officials Held Rates in June on Uncertain Job Market
FOMC Minutes Released: Here's What We've Learned
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Federal Reserve officials left interest rates on hold last month as heightened uncertainties about the U.S. labor market and financial stability threatened their outlook, according to minutes of their meeting the week before the U.K. voted to leave the European Union.
The minutes of their June 14-15 meeting show that the Federal Open Market Committee saw it prudent to wait for the result of Britain’s June 23 referendum, which at the time was still too close to call. The decision in favor of Brexit has since sent the pound tumbling and has driven bond yields to record lows.