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FOMC September minutes: balancing risks

Both downside risks to growth and upside risks to inflation were a significant concern to the Federal Open Market Committee (FOMC), the minutes from the 16 September meeting reported.

The FOMC noted that strains in financial markets have increased significantly and labour markets have weakened further. It also expects inflation to moderate later this year and next year, but the inflation outlook remains highly uncertain.

The committee also stated that the substantial easing of monetary policy

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