Fed Officials See Need for Continued Interest-Rate Increases, but Less Certainty Over Destination
Officials at last month’s meeting acknowledged risks from raising rates too little and too much
Federal Reserve officials agreed at their monetary-policy meeting last month they needed to keep raising interest rates enough to lower inflation, but signaled greater caution with the pace of coming increases.
The central bank has raised rates this year at its fastest pace since the 1980s. Minutes from the Fed’s July 26-27 policy meeting, released Wednesday, showed officials were sensitive to two opposing risks as they weighed how and when to slow those increases.