Most U.S. Federal Reserve officials last month still regarded high inflation as an ongoing threat that could require further interest rate increases, according to the minutes of their July 25 to 26 meeting released Wednesday.
At the same time, the officials saw “a number of tentative signs that inflation pressures could be abating." It was a mixed view that echoed Chair Jerome Powell's noncommittal stance about future rate hikes at a news conference after the meeting.
At the meeting, the Fed decided to raise its benchmark rate for the 11th time in 17 months in its ongoing drive to curb inflation. But in a statement after the meeting, it provided little guidance about when — or whether — it might raise rates again. Since last month's Fed meeting, more data has pointed in the direction of a “soft landing,” in which the economy would slow enough to reduce inflation toward the central bank’s two per cent target without falling into a deep recession. The Fed has raised its key rate to a 22-year high of about 5.4 per cent.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bond market sees no end to tumult as Federal Reserve casts a hawkish shadowInvestors anticipate US Treasuries will continue to be whipsawed by heightened volatility from economic uncertainty. Find out more.
Read more »
Minutes of U.S. Federal Reserve’s July policy meeting could hint at end of rate hikesThe minutes may show how much faith different groups of Fed officials have in a continued decline in inflation, or whether the bulk of them still feel another rate increase is likely needed
Read more »
Bride Refuses To Reserve Seats For MIL’s Miscarried And Stillborn Children At Her WeddingIt's OK for parents to have some reservations for their kids' weddings. This, however, becomes a problem if their requests are disturbing.
Read more »
Recently shuffled federal cabinet to hold three-day retreat in Prince Edward IslandNational Newswatch: Canada's most comprehensive site for political news and views. Make it a daily habit.
Read more »
The war on inflation isn't over yet, despite what some people thinkBetting one’s portfolio on an outright win over rising prices in the near term could be dangerous, says Martin Pelletier. Read on.
Read more »
Recently shuffled federal cabinet to hold three-day retreat in Prince Edward IslandPrime Minister Justin Trudeau says a three-day federal cabinet retreat that is set to take place in Prince Edward Island next week will focus on the economy and affordability issues.
Read more »