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Fed minutes show broader support for higher rates to curb inflation
The July meeting minutes indicate more officials were willing to keep borrowing costs elevated as inflation pressures persist.
New York Times Business reports that minutes from the Federal Reserve’s July meeting showed a broadening view among officials that higher borrowing costs may be needed to address still-elevated inflation.
According to the minutes, support for maintaining tighter policy has been spreading as the central bank looks to stamp out lingering price pressures, rather than move toward earlier easing.
The discussion, as summarized from the meeting record, suggests policymakers are increasingly focused on keeping rates high to respond to inflation that has not fully cooled.