In minutes of last month’s meeting released today by the Federal Reserve Board (Fed), officials expressed concern that high inflation could continue, and reiteratedirrigatedintend to continuerate increasein order to reduce the pressure of rising prices.
The Fed raised interest rates by 3 yards in one go last month, the biggest single rate hike since 1994.Rate of interestThe rate rose and signaled it would continue to raise interest rates at the fastest pace in decades, consolidating inflation suppression to a 40-year high.
According to the minutes of the Fed’s June 14–15 meeting, officials were concerned that “inflation pressure shows no signs of easing”, which some officials saw as further evidence that “inflation continues to last longer than previously expected”. Will last till then.”
But minutes from the Fed meeting last month also showed that officials were determined to keep the economy cool until at least the end of the year.