![US Fed's rate meeting minutes show growing inflation concerns](https://www.berlinertageblatt.de/media/shared/articles/61/51/66/US-Fed-s-rate-meeting-minutes-show--140101.jpg)
-
Venezuela takes diplomatic jab at Brazil in spat over election
-
Multiple people shot along highway in US state of Kentucky
-
'Super proud' Sabalenka downs Pegula to win US Open thriller
-
In Papua New Guinea, Pope holds mass 'at the edge of the world'
-
Hewett stays positive for wheelchair tennis despite agonising defeat
-
Three things on US Open champion Aryna Sabalenka
-
Sabalenka downs Pegula to win US Open thriller
-
USA men land Paralympic basketball three-peat, Jiang takes 7th swim gold
-
USA slump to first home defeat against Canada in 67 years
-
Argentina hand Australia record 67-27 loss in Rugby Championship
-
England impress on Carsley bow, Germany, Dutch hit five
-
AFP photographer wins top prize for Gaza coverage
-
No Love for Packers for three weeks after ligament sprain: reports
-
Pedro Almodovar: chronicler of modern Spain crowned in Venice
-
Almodovar wins top Venice prize for end-of-life film
-
Trump sounds dark tone at rally, Harris 'ready' for debate
-
Wirtz and Musiala dazzle to kick-start new Germany era
-
Chinese teenager takes 7th gold of Paris Paralympics
-
England interim boss Carsley 'respects' divided opinions over anthem
-
Neuville moves to the front in the Acropolis Rally
-
Garfield, Pugh charm Toronto in new romance 'We Live in Time'
-
21 boys confirmed dead in Kenya school inferno
-
Over 100,000 protest in France against new prime minister
-
Golden 30 minutes takes China to swimming Paralympics swimming domination
-
Green leads Australia to T20 series sweep of Scotland
-
Nigeria, Cameroon win afer chaotic AFCON build-ups
-
Nicole Kidman: A-lister, cinematic chameleon, wins in Venice
-
'I had to prove myself', says Kolisi after win against All Blacks
-
Almodovar wins top prize at Venice film festival
-
Grealish savours England redemption after 'worst summer'
-
Carsley makes flying start as England interim boss in win over Ireland
-
Springboks close on Rugby Championship with storming win over All Blacks
-
Sri Lanka's De Silva and Kamindu Mendis defy England in third Test
-
Farrell's Racing lose on opening day of Top 14
-
Ireland and UK to 'reset' relations as Starmer visits Dublin
-
Dunbar takes second Vuelta stage as Roglic closes in on victory
-
Fritz eyes US Open glory to end 21 years of American hurt
-
Thousands protest in France against new prime minister
-
Death toll from Kenya school blaze rises to 21
-
Brazil's right rallies for 'freedom' after X suspended
-
Trump to hold rally in swing state, Harris preps for debate
-
Stone at the double as Sri Lanka collapse against England in third Test
-
French tennis player takes legal action over online abuse
-
Italy backs Kyiv's 'legitimate defence' as Zelensky presses allies
-
The Body Shop rescued from administration after deal
-
Martin roars to victory in San Marino sprint, extends MotoGP lead
-
Smoke and screams: The horror of Kenya's school dorm inferno
-
MotoGP leader Martin roars to victory in San Marino sprint
-
Ireland and UK to 'reset' relations as Starmer begins Dublin visit
-
Ma Lin turns brutal encounter with bear into glorious Paralympic career
![US Fed's rate meeting minutes show growing inflation concerns](https://www.berlinertageblatt.de/media/shared/articles/61/51/66/US-Fed-s-rate-meeting-minutes-show--140101.jpg)
US Fed's rate meeting minutes show growing inflation concerns
A strong US economy and an uptick in inflation led the Federal Reserve's rate-setting committee to conclude that progress against rising prices had stalled, according to minutes of its most recent meeting published Wednesday.
Fed policymakers voted to hold rates at a 23-year high after the rate-setting meeting concluded on May 1, as they sought to tackle inflation still stuck firmly above the bank's long-term target of two percent.
The minutes of the two-day Federal Open Market Committee (FOMC) meeting show that policymakers generally felt that "recent data had not increased their confidence that inflation was moving sustainably toward two percent."
The disappointing inflation data, and the strong economic figures in the first quarter, led them to conclude that "it would take longer than previously anticipated" for them to be confident that inflation was trailing off, the Fed said.
Several FOMC members said they thought aggregate demand growth would need to slow down for the target to be reached.
Various policymakers also "mentioned a willingness to tighten policy further should risks to inflation materialize in a way that such an action became appropriate," the Fed added.
On a more positive note, the Fed minutes noted that "medium- and longer-term measures of expected inflation had remained well anchored, which was seen as crucial for meeting the committee's inflation goal on a sustained basis."
Futures traders currently assign a probability of close to 60 percent that the FOMC will vote to cut rates by mid-September, according to data from CME Group.
A September rate cut would thrust the independent US central bank into the middle of a fractious presidential election campaign between Joe Biden and Donald Trump in which the US economy and the cost of living look set to feature.
C.Meier--BTB