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Fed Still Concerned by Low Inflation as Rate Liftoff Nears

Bloomberg business news

Yellen's Fed Dilemma: Global Issues Weigh on a Rate Hike

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Federal Reserve officials signaled concern about stubbornly low inflation even as they indicated that an improving job market is bringing them closer to the first interest-rate increase in almost a decade.

Participants in the July 28-29 Federal Open Market Committee meeting said economic conditions “were approaching that point” where the economy could sustain a slight increase in borrowing costs, according to minutes of the meeting released in Washington on Wednesday.