WASHINGTON, - Many U.S. Federal Reserve officials at their last meeting thought more stimulus would be needed soon if risks to the U.S. economy did not let up, and several others leaned in that direction, records from the meeting showed.
In their June 18-19 meeting, which for the first time this year introduced the near-term possibility that the Fed might cut rates, multiple policymakers said rates should come down to “cushion the effects” of a U.S. trade war and to firm up inflation that is failing to meet the central bank’s 2%-a-year target, according to the minutes from that meeting released on Wednesday.
Policymakers held their target interest rate steady in a range of between 2.25% and 2.5% but dropped promises to be “patient” before changing rates. After the meeting, China and the United States agreed to resume trade talks and Washington promised no new tariffs. But in recent days Fed Chairman Jerome Powell has said the uncertainties around trade could still be weighing on business confidence and investment, potentially requiring action.
When combustion engines are your only option....
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