The minutes of the July meeting of the Federal Open Market Committee in the United States indicate that the Federal Reserve may further raise interest rates in the future | Meeting Minutes | Federal Reserve of the United States
On August 16th local time, the minutes of the July meeting of the Federal Open Market Committee in the United States showed that attendees analyzed recent economic data performance and believed that economic resilience and inflationary pressures were further alleviated. After strong suggestions from attendees, the committee decided to raise the benchmark interest rate by 25 basis points, maintaining it between 5.25% and 5.5%.
The meeting minutes show that in the July survey of major traders and market participants, respondents still believe that there is a high possibility of an economic recession occurring before the end of 2024. Respondents expect that by the end of 2025, both overall and core personal consumption expenditure inflation rates will decrease to 2%.
In addition, the meeting minutes also indicate that the Federal Reserve may further raise interest rates in the future, but the focus is on how to strike a balance between curbing inflation and ensuring economic stability.