FOMC worried about inflation despite rate hold
Minutes of June meeting highlight ‘broad-based’ price rises and persistent core inflation
Members of the Federal Open Market Committee (FOMC) expressed concerns about persistent inflation in the US during their meeting on June 16–17, despite voting unanimously to hold rates, minutes of the meeting show.
The minutes, published on July 8, said FOMC members “generally noted” that inflation had risen and remained “well above” the committee’s 2% target. “Several participants commented that price pressures had become more broad based,” the minutes said, while members also noted that
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