WASHINGTON (AP) — Federal Reserve officials earlier this month said that a strong economy meant that it would “likely soon be appropriate” to boost their benchmark interest rate for a third time this year.
But minutes of their discussions also revealed deepening concerns about how the economy would fare under the Trump administration’s trade policies and a possible escalation of trade wars.
The minutes underscore expectations that the central bank is likely to increase its policy rate at its next meeting in September. Many economists believe a September hike will be followed by another rate increase in December.
The Fed has raised rates seven times since late 2015 to make sure the lowest unemployment in nearly 50 years does not trigger unwanted inflation.
