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U.S. Fed minutes likely to shine light on divide over tariffs, rates outlook
The minutes from the U.S. Federal Reserve’s June 17-18 policy meeting are expected on Wednesday to show a divided central bank wrestling with the expected economic impact of rising U.S. import taxes and reluctant to commit to interest rate cuts until it is clearer how much the Trump administration’s tariff increases will add to inflation. U.S. Fed Governor Christopher Waller and Fed Vice Chair for Supervision Michelle Bowman, both appointed by U.S. President Donald Trump during his first term in the White House, have said they’d consider cutting the benchmark policy rate as soon as the central bank’s July ... (full story)