Fed minutes bare rate hike division

By Agence France-Presse

Aug 18, 2023 1:00 am

WASHINGTON: A couple of Federal Reserve officials would have backed pausing US interest rate hikes last month, but ultimately supported another increase to tackle high inflation, according to minutes of the meeting published Wednesday.

The July gathering saw all 11 voting members of the policy-setting Federal Open Market Committee (FOMC) support lifting rates by 25 basis points, as inflation remains stubbornly above the central bank's long-term two percent target.

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