Fed says "additional favorable data" on inflation required before cutting rates: minutes

WASHINGTON, July 3 (Xinhua) -- U.S. Federal Reserve officials said "additional favorable data" were required to give them greater confidence that inflation was moving sustainably toward 2 percent, according to minutes of the Fed's latest meeting released on Wednesday.

At its June 11-12 policy meeting, the Fed left interest rates unchanged at a 22-year high of 5.25-5.5 percent, as recent consumer price data showe