Fed signals solid growth in report to Congress
FOMC members support gradual normalisation of monetary policy
The US Federal Reserve stresses the strong momentum of the economy in its semi-annual report to Congress published on July 13.
“Economic activity increased at a solid pace over the first half of 2018 and the labour market has continued to strengthen,” the report says. “Inflation has moved up and, in May, the most recent period for which data are available, inflation measured on a 12-month basis was a little above the Federal Open Market Committee’s longer-run objective of 2%.”
This economic
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