“The staff projected that inflation would increase further in the next couple of years, and that it would be close to the Committee’s longer-run objective in 2018 and at 2 percent in 2019” The minutes said. The minutes also showed that most Fed members supported the idea that the U.S. economy was strong enough to manage additional rate hikes. “The Committee continues to expect that, with gradual adjustments in the stance of monetary policy, economic activity will expand at a moderate pace, and labor market conditions will strengthen somewhat further”.
Fed minutes: Inflation expected to rise to 2% target in 2019
Federal Reserve members continued to view the recent slowdown in inflation as transitory and insisted that it would rise to the central bank’s target of 2% over the longer-term, according FOMC minutes released on Wednesday. The minutes showed that the recent slowdown in inflation didn’t deter the Federal Reserve from its stance of raising rates gradually, as most members expect that inflation will rise to central bank’s target of 2% in 2019.
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