Fed minutes show officials divided on interest rate path
Fed minutes show policymakers split on rates as inflation remains in focus See what the data-dependent outlook could mean for borrowing costs next
Federal Reserve minutes released Wednesday showed that policymakers were split at the June meeting over whether interest rates should move higher or lower in the months ahead.
The summary said some officials thought inflation could cool enough to justify lower rates, while others saw price pressures staying elevated and favored additional hikes. The committee, led for the first time by Chairman Kevin Warsh, still voted unanimously to leave the benchmark rate unchanged at 3.5% to 3.75%.
The document offered limited forward guidance and emphasized that future decisions would depend on incoming data. It also noted that inflation risks remained tilted to the upside, while markets reacted modestly to the release.