Economic Buzz: Fed On Track To Continue Raising Interest Rates

18 Aug 2022 , 08:55 AM

The Federal Reserve released the minutes of its July monetary policy meeting on Wednesday, reaffirming the central banks plans to continue raising interest rates in an effort to return inflation to its 2 percent objective. The Fed did not provide specific guidance regarding the pace of future rate hikes, noting that the extent of future policy tightening would depend on the implications of incoming data for the economic outlook and risks to the outlook. The minutes did reveal that meeting participants believed it would be necessary to move to a restrictive stance of policy due to inflation remaining well above the Feds objective. At the same time, the Fed said participants judged that it would eventually become appropriate to slow the pace interest rate hikes in order to assess the impacts of higher rates on economic activity and inflation. Powered by Commodity Insights