On July 8 local time, the Federal Reserve released the minutes of its Federal Open Market Committee (FOMC) meeting held on June 16 and 17. The minutes showed that all members unanimously agreed to maintain the target range for the federal funds rate at 3.5% to 3.75%.
Participants noted that inflation had risen further and remained well above the Committee's 2% long-run target. They observed increases in both core and overall inflation, attributing these rises primarily to the continued impact of tariffs, supply chain disruptions related to the closure of the Strait of Hormuz, and strong demand for certain goods and services driven by robust AI-related investments.
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Tag:·FOMC·federal funds rate·inflation
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