Reported 12 months ago
Federal Reserve officials discussed seeing 'modest progress' towards the 2 percent inflation goal at their June meeting but showed caution in lowering rates until observing a clear downward trend, according to the meeting minutes. Some members suggested that if inflation remains elevated or rises further, rates might need to be raised. There was also uncertainty about the current interest rates' impact on financial conditions, with some officials indicating the need to stand ready to respond to unexpected economic weaknesses. Fed Chair Powell hinted that rate cuts could be expected if inflation slows, with projections showing a potential cut once or twice this year if needed.
Source: YAHOO