Federal Reserve Officials Split on Imminent Rate Rise

by Ashley Armstrong

America’s leading central bankers are split on an imminent US interest rate rise , despite officials believing that near-term risks to the economy had subsided.

Federal Reserve officials appeared to express relief that their fears around Brexit proved unfounded in their first meeting since the UK voted to leave the European Union.

The minutes of the latest Fed meeting in July reveal that some policymakers believed a US interest rate increase will be needed soon, although there was a general agreement that more data was needed before such a move. Two officials pressed for an immediate raise.

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