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Fed Minutes Say Waiting For "More Information" Before Cutting Rates

Mary Liu

Summary: Fed minutes show policymakers believe it would be inappropriate to lower borrowing costs until "more information" gives them "greater confidence" that inflation will reach the 2% target. The "vast majority" of Fed officials assessed that economic growth "appears to be gradually cooling, and most participants said they viewed the current policy stance as restrictive." Officials ...

Fed minutes show policymakers believe it would be inappropriate to lower borrowing costs until "more information" gives them "greater confidence" that inflation will reach the 2% target.

The "vast majority" of Fed officials assessed that economic growth "appears to be gradually cooling, and most participants said they viewed the current policy stance as restrictive."

Officials said the smaller monthly increase in the core personal consumption expenditures price index showed clear progress in inflation and was supported by May CPI data.

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