Nick Timiraos|Jul 08, 2026 18:34
The June FOMC minutes are interesting: they frame the committee's divide as a split over the outlook, not necessarily over tactics.
Note the symmetry here:
"Almost all" participants think higher rates will be needed if inflation pressures don't dissipate.
"Almost all" also think they can hold (or eventually cut) if inflation "soon" heads back to 2%.
(And, yes, the word "soon" could be doing a lot of lifting there to maintain said symmetry)
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