Several Federal Reserve policymakers said last month the central bank is likely to raise its benchmark interest rate in June but “others” said the move will probably occur “later in the year,” according to minutes of the Fed’s March 17-18 meeting.
The report is consistent with Fed policymakers’ forecasts, released after the mid-March meeting, that indicate the first bump in rates since 2006 is unlikely before September as the Fed awaits signs of a pickup in anemic inflation.
Still, the minutes, which provide a more detailed window into Fed officials’ debates at the gathering, suggest they haven’t ruled out a June rate increase.
The minutes also offer a rough blueprint for the signals that could indicate an acceleration in inflation is coming — thus making a rate increase viable — including a more stable dollar.
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