The minutes will describe the deliberations that allowed the Fed, after just over a year of very aggressive rate rises, to maintain its overnight target rate at between 5% and 5.25%
Federal Reserve meeting minutes from the June policy gathering to be released on Wednesday are likely to show an active debate among policy-makers who still on balance appear inclined to support more action to tame inflation.officials have spent the last three weeks following the June Federal Open Market Committee meeting sketching out their policy outlooks.
But some feel enough has been done. Atlanta Fed President Raphael Bostic said last Thursday that he believes no more rate increases are needed, noting “the data, survey results, and on-the-ground intelligence constitute a reasonable case that gradual disinflation will continue.” He added, “that will happen even if the Committee does not increase the federal funds rate.”
The Fed held steady on June 14 in large part to take stock of the impact of the increases it has already implemented. Over recent days, some central bankers have noted that the effects of past tightening are still flowing into the economy.
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