The Fed Is Still Worried About Inflation

It’s true that the Federal Reserve appears willing to lower interest rates further this year. But recent minutes from the central bank’s September meetings reveal that many members have expressed caution—driven by concerns over percolating US inflation.

“Most judged that it likely would be appropriate to ease policy further over the remainder of this year,” according to minutes of the Federal Open Market Committee’s Sept. 16-17 gathering. But the record of the meeting also showed “a majority of participants emphasized upside risks to their outlooks for inflation.”