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2 weeks ago

High energy prices risk keeping inflation above 2% target, concerning Fed policymakers

Federal Reserve policymakers were concerned about high energy prices contributing to inflationary pressures in the economy when they held interest rates steady last month, the minutes from the meeting show.The Federal Open Market Committee (FOMC), the Fed panel responsible for monetary policy decisions, released the minutes of policymakers' April meeting on Wednesday which showed inflation driven by energy prices and tariffs when they kept the benchmark federal funds rate unchanged at a range of 3.5% to 3.75%.The minutes indicated that the personal consumption expenditures (PCE) index, the Fed...