WASHINGTON (AP) — Federal Reserve officials at their recent meeting believed the central bank could remain “patient” in deciding when to adjust interest rates, though some officials thought future rate hikes might still be needed.
In minutes of the April 30-May 1 discussions, Fed officials note that prospects for the U.S. and global economy had been improving, while inflation had fallen farther below the Fed’s 2% target.
Financial markets and President Donald Trump are hoping that the central bank will start cutting rates soon to bolster growth further. The Fed minutes, however, indicated little sentiment for rate cuts.
Instead, the minutes revealed “a few” participants say they thought more rate increases might be needed to keep low unemployment from triggering unwanted inflation.
The Fed kept its key rate unchanged at the meeting.
