WASHINGTON (AP) — After several unexpectedly high inflation readings, Federal Reserve officials concluded at a meeting earlier this month that it would take ...
WASHINGTON — After several unexpectedly high inflation readings, Federal Reserve officials concluded at a meeting earlier this month that it would take longer than they previously thought for inflation to cool enough to justify reducing their key interest rate, now at a 23-year high.
Such concerns have raised speculation that the Fed could consider raising, rather than cutting, its benchmark rate in the coming months. Indeed, the minutes noted that “various" officials “mentioned a willingness” to raise rates if inflation accelerated.But at a news conference just after the meeting, Chair Jerome Powell said it was “unlikely” that the Fed would resume raising its benchmark rate — a remark that temporarily boosted financial markets.
Last week, though, a separate inflation report from the government showed that price pressures slowed a bit in April. Though a stream of Fed speakers this week welcomed April’s milder inflation report, they stressed that more such readings would be needed to enable them to cut rates. The former president, in a typically loud post on his social media platform Truth Social, claimed that FBI agents had been authorized to use ‘deadly force’ during the raid of his Florida propertyDave Sanders/Pool via ReutersDonald Trump’s defense team rested their case on Tuesday after putting on what The New York Times described as a “minimal defense.”The Times likely did not intend any disparagement of Trump’s defense with its wording.
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