FOMC stops briefly rate trek project to evaluate financial results, minutes reveal  

Against a background of tightening up credit conditions and greater rate of interest anticipated to continue weighing on the economy, Federal Open Market Committee members chose to keep the target variety for the federal funds rate at 5% to 5.25%, according to minutes from the committee’s June conference. Participants acknowledged that a time out in rate walkings would supply time to evaluate the economy’s development towards the committee’s objectives of optimum work and rate stability.

FOMC members continued to concur that a limiting position for financial policy would be proper in order to attain those goals. “Almost all participants stated that, with inflation still well above the committee’s longer-run goal and the labor market remaining tight, upside risks to the inflation outlook or the possibility that persistently high inflation might cause inflation expectations to become unanchored remained key factors shaping the policy outlook,” the minutes kept in mind.


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