Some FOMC members sought pause in July, minutes show
Participants pointed to signs of loosening labour market and slowing consumption
Some members of the US’s Federal Open Market Committee (FOMC) were open to holding rates steady at their July meeting, minutes published on August 16 revealed.
The FOMC’s decision brought the target federal funds rate to between 5.25% and 5.5%. “Almost all participants judged it appropriate,” the minutes said.
However, “a couple of participants indicated that they favoured leaving the target range for the federal funds rate unchanged”. Those participants argued pausing in July would still
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