Minutes from the Federal Reserve's June meeting showed that policymakers largely held to a wait-and-see position on future rate moves.
The minutes, released Wednesday, indicate that policymakers' support for the possibility of resuming monetary easing stems from their belief that inflationary pressures from tariffs will be moderate and temporary.
This is despite the FOMC members' unanimous vote to hold interest rates at 4.25% to 4.50% during the meeting, maintaining their wait-and-see approach before raising borrowing costs.
Members' views differed regarding the timing of resuming cuts, with two members believing it was possible to take this step at this month's meeting, while a few members said it was not appropriate to make any cuts at all this year.
However, all members agreed that the committee would make its decisions based on evolving conditions and information about the economic outlook, and that they are prepared to change the course of monetary policy if any risks to the central bank's objectives emerge.
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