CNBC Power July 2, 2024
Recent data at the time suggested that this process would take longer than they had previously expected. The readings did not increase the confidence for cutting Interest Rates. Although the fund rate was seen as restrictive overall, many were uncertain about how restrictive it actually was. They did discuss the possibility that the rate may be higher and higher rate may be less effective at slowing the economy down they have been at the past. They saw the lack of progress on inflation, increasing goods and Service Prices across the board. There was a debate. Some saw this as residual seasonal...