Business
Fed Minutes Reveal Support for Rate Hikes if Inflation Proves Persistent
Federal Reserve officials all but retired the question that had dominated their debates for the past two years—whether to cut interest rates—and began more seriously at their meeting last month to weigh the opposite: whether to raise them.
“A majority of participants highlighted…that some policy firming would likely become appropriate if inflation were to continue to run persistently above 2%,” according to the minutes of the April policy meeting, released Wednesday.
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