-Reuters-
U.S. central bankers discussed whether recession lurked around the corner and expressed concerns global trade tensions could hit an economy that by most measures looked strong, minutes of the Federal Reserve’s last policy meeting on June 12-13 released on Thursday showed.
The minutes, which described a meeting in which the Fed raised interest rates for the second time this year, also suggested policymakers might soon signal that the Fed’s rate-hiking cycle was advanced enough that policy was no longer boosting or constraining the economy.
The minutes overall gave the impression of a central bank impressed by the U.S. economy’s strength and confident in its plans to continue raising rates, but also concerned with what could push the economy off its upward course.
“Most (Fed policymakers) noted that uncertainty and risks associated with trade policy had intensified and were concerned that such uncertainty and risks eventually could have negative effects,” according to the minutes.
Many of the Fed’s contacts across the economy said they were worried that a recent increase in tariffs levied by the United States and its trading partners was weighing on investment, according to the minutes’ summary of policymaker discussions. Read more
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