Daily news
May 24, 2024

Federal Reserve minutes indicate worries over lack of progress on inflation

The minutes from the Federal Reserve's most recent meeting indicate that policymakers are concerned about the lack of progress towards their inflation target of 2%. Despite sustained economic growth and a robust labor market, inflation has consistently undershot this target. This has sparked worries among policymakers about the effectiveness of their current monetary strategies in achieving desired inflation rates. They are in discussion about potential actions that could be taken to bolster inflation, suggesting possibilities such as revising the Fed's framework for managing inflation or implementing new monetary policies. However, no concrete decisions have been made yet and officials plan to continue monitoring the situation.