FOMC Minutes: July 28th – 29th Meeting

Summary

Committee in Preparation Talks for Impending First Rate Hike. Most FOMC members view downward pressures on inflation as transitory, but risks to the inflation outlook may outweigh labor market improvement for some doves. Global risks have diminished for the short-term & are thus unlikely to delay the first rate hike, though they may impact the future pace of rate increases

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