Fed will remain flexible, rates not on 'preset course': Minutes

WASHINGTON: The US Federal Reserve will remain flexible and interest rates will not be on a"preset course" in the face of persistent risks from trade uncertainty and weak global growth, the central bank said on Wednesday .

Those risks are expected to persist, and the"continued weakness in global economic growth and ongoing trade tensions had the potential to slow US economic activity," according to the minutes of the Fed's Jul 30-31 policy meeting. While the minutes made no mention of Trump's constant attacks, Fed officials said they would be"guided by incoming information and its implications for the economic outlook and that avoided any appearance of following a preset course."The July rate cut was viewed as"part of a recalibration ...

And the minutes showed officials were"mindful" that trade tensions were far from settled and that trade uncertainties could intensify again.sentifi.comAnd with inflation stubbornly weak, the minutes noted that a slowing US economy would further delay a sustained return of inflation to the two per cent objective.

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