The minutes of the Federal Reserve meeting show that at the Federal Reserve meeting on July 28-29, most participants supported keeping interest rates unchanged, but several participants preferred to raise interest rates; many participants assessed that if inflation does not fall back, further interest rate hikes may be necessary. Some participants said that the current tightening of the financial environment may not be enough to pull inflation back to the 2% target.

The minutes of the Federal Reserve meeting show that at the Federal Reserve meeting on July 28-29, most participants supported keeping interest rates unchanged, but several participants preferred to raise interest rates; many participants assessed that if inflation does not fall back, further interest rate hikes may be necessary. Some participants said that the current tightening of the financial environment may not be enough to pull inflation back to the 2% target.