Some Fed officials wanted to raise rates in June, minutes show

‘Almost all’ FOMC participants expect to increase the target interest rate this year

Jerome Powell FOMC
Federal Reserve chair Jerome Powell
Federal Reserve

Some US Federal Open Market Committee participants wanted to raise rates by 25 basis points in the committee’s June policy meeting, Fed minutes show.

Almost all FOMC members, the minutes say, want further rate increases in 2023, though many favoured continuing to slow their pace.

The participants who pushed for a rise in June cited the strength and momentum of the economy. Yet, “some participants noted concerns about the potential risks stemming from weakness in commercial real estate”, the

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