Policymakers agree in July uncertainty remains high and future interest rate decisions will depend on ‘totality’ of data
The US Federal Reserve building in Washington, DC, the US. Picture: REUTERS
Yet cautionary voices about the effects of continued monetary tightening appeared to play a more prominent role in the debate at last month’s meeting, an indication that the spread of opinion at the Fed has widened as policymakers weigh evidence that inflation is falling and judge the potential damage to jobs and economic growth if rates are raised higher than necessary.The group also “discussed several risk-management considerations that could bear on future policy decisions”, the minutes said.
US Treasury yields hit session highs after the release of the minutes while US stocks extended losses. The dollar was trading higher against a basket of currencies.
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