Share
Copied
CFP File Photo
A united U.S. Federal Reserve agreed to hold interest rates steady at the June meeting as a way to buy time and assess whether further rate hikes would be needed, even as the vast bulk expected they would eventually need to tighten policy further, according to meeting minutes released on Wednesday.
While "some participants" wanted to move ahead with a rate hike in June because progress in cooling inflation had been slow, "almost all participants judged it appropriate or acceptable to maintain" the federal funds rate at the existing 5 percent to 5.25 percent, the minutes said.
"Most of those participants observed that leaving the target range unchanged at this meeting would allow them more time to assess the economy's progress," toward returning inflation to 2 percent from its current level more than twice that.
The minutes added detail to the policy statement and economic projections issued after the June 13-14 session, when the Fed ended its 10-meeting streak of rate hikes with a decision to hold the benchmark federal funds rate steady.
Markets were little changed after the minutes, with traders in futures tied to the Fed policy rate continuing to price in a rate hike in July and about a one-in-three chance of another increase before the end of the year.
Search Trends
SITEMAP
Copyright © 2023 CGTN. 京ICP备16065310号
Disinformation report hotline: 010-85061466
SITEMAP
Copyright © 2023 CGTN. 京ICP备16065310号
Disinformation report hotline: 010-85061466