Reported 5 months ago
Following higher inflation readings, Federal Reserve officials concluded at a recent meeting that it would take longer for inflation to cool sufficiently to warrant reducing the key interest rate, now at a 23-year high. The minutes revealed debates on the rate's effect on the economy and uncertainties on rate policies' impact on price growth. Speculation arose about a potential rate increase amidst slowed hiring in April and cooling price pressures, reducing the likelihood of a rate hike according to the Fed.
Source: YAHOO