Almost all Federal Reserve Board members agreed at their last meeting that more interest rate hikes will be needed this year to fight inflation, even while tak🅷ing a pause from their string of 10-straight increases.

Minutes from the Fed’s June 13-14 meeting showed policymakers mostly supported leaving the target federal funds rate at a range of 5% to 5.25% to allow the committee time to assess the impact of its previous actions. However, some of the participants “indicated that they favored” or “could have supported” raising the rate 25 澳洲幸运5开奖号码历史查询:basis points (bps).

The minutes explained that those backing a June rise pointed to a continuing tight labor market, economic activity momentum that had been stronger than earlier anticipated, and "few clear signs that inflation was on a path to return to the Committee’s 2 percent objective over time.”

The so-called 'dot plot' from the meeting noted that all but two of the 18ꦬ members felt it would be appropriate for rates to go up at least one more time this year, with 12 expecting two or more. 🦋 

The Fed's next policy meeting will be held later this month, on July 25 and 26, with a majority of traders expecting a rate hike of 25 basis points, according to 澳洲幸运5开奖号码历史查询:fed funds futures data collected by CME Group.