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Financial News: Fed Mellow About Inflation, Minutes Show

Fed Mellow About Inflation, Minutes Show

05/23/2018 - 14:09:00 (RTTNews)

(RTTNews) - The Federal Reserve continues to project two more rate hikes are on the way this year with three more on the way for 2019, according to the minutes of their most recent meeting.

There was no interest rate hike at the May meeting, but policy makers debated the threat of inflation and acknowledged trade-related uncertainties.

The Fed has raised interest rates six times since the financial crisis, and another quarter-point rate hike in June is universally expected.

"Most participants judged that if incoming information broadly confirmed their economic outlook, it would likely soon be appropriate for the FOMC to take another step in removing policy accommodation," the minutes said.

The minutes revealed little concern about inflation, suggesting the Fed will maintain its gradual approach to raising rates.

"It was noted that it was premature to conclude that inflation would remain at levels around 2%, especially after several years in which inflation had persistently run below the Fed's 2% objective," the minutes said.

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