Upside risks from Trump tariffs prompted Fed to hold rates
FOMC minutes show that January’s decision was partly informed by potential changes in US trade policy
The US Federal Reserve held rates last month because of potential upside risks to inflation resulting from the Trump administration’s planned tariffs, newly published minutes suggest.
The minutes, published on February 19, show that members of the Federal Open Market Committee (FOMC) were in broad agreement that the US economy had been performing well, that unemployment levels were low and that the labour market remained tight.
FOMC members also acknowledged that inflation had eased “significantly
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com
More on Monetary Policy
BIS paper links long-term rates decline to FOMC meetings
Study finds 70% of drop in rates in G10 countries is due to market moves close to Fed meetings
Turkey raises overnight lending rate in emergency move
Central bank tries to protect lira after opposition figure’s arrest triggers fall in currency
Inflation expectations rising due to tariffs – BoC’s Macklem
Governor says Canada’s central bank will pursue policy that works in multiple scenarios
Iceland and Switzerland cut rates, while Sweden holds
Central banks highlight global developments and high levels of uncertainty
China holds loan prime rates again
PBoC stays put while government works to boost consumption
Brazil delivers another 100bp hike
BCB’s battle against inflation continues as government announces more fiscally expansionary measures
Bank of England holds rates amid ‘elevated uncertainty’
UK central bank opts to stick at 4.5%, citing potential for increased financial volatility
FOMC holds rates amid uncertainty and stagflation risks
Fed chair Jay Powell says inertia also a factor as committee opts for caution