Concern over the lagged impact of previous increases appeared to take precedence at the US central bank’s July 25-26 meeting.
| Federal Reserve officials were divided over the need for more interest rate hikes at the US central bank’s July 25-26 meeting, with “some participants” citing the risks to the economy of pushing rates too far.
“Most participants continued to see significant upside risks to inflation, which could require further tightening of monetary policy.” “These included the possibility that the macroeconomic effects of the tightening in financial conditions since the beginning of last year could prove more substantial than anticipated.”
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