Central Banks
Fed Minutes Reveal Divisions Over Decision to Pause in June
- Some participants favored quarter-point rate increase
- Minutes signal Fed on track to raise interest rates in July
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Federal Reserve officials struck a tenuous agreement to pause interest-rate increases at their June meeting, all but committing to hike again later this month in a bid to keep fighting stubborn inflation.
The minutes from the Fed’s June 13-14 meeting show that while almost all officials deemed it “appropriate or acceptable” to keep rates unchanged in a 5% to 5.25% target range, some would have supported a quarter-point increase instead.