Federal Reserve minutes: Policymakers saw a longer path to rate cuts
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. Minutes of the meeting showed that officials also debated whether their benchmark rate was exerting enough of a drag on the economy to further slow inflation. Many officials noted that they were uncertain how restrictive the Fed’s rate policies are. Читать дальше...