Some Federal Reserve officials pushed for an interest rate hike in June, according to minutes of the meeting released Wednesday.
There was support from an unspecified number of Federal Reserve officials for an interest rate hike at the central bank’s policy meeting in June, according to a summary of the discussions released Wednesday.
“Some participants indicated that they favored raising the target range for the federal funds rate 25 basis points at this meeting or they could have supported such a proposal,” the minutes of the June 13-14 meeting said. The minutes show that many officials wanted to slow the speed of rate hikes to give officials more time to observe the effect of past hikes. And officials said that the dot plot would “help clarify” their views.
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