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Inflation or jobs: Federal Reserve officials are divided over competing concerns
One major question will be front and center for Federal Reserve policymakers as they prepare for an annual conference in Jackson, Wyoming next week and a crucial policy meeting in September: Which is a bigger problem for the economy right now, stubborn inflation or slower hiring? Weak job gains since April have pushed some officials toward supporting a cut in the Fed’s key rate as soon as next month, but speeches and comments by other Fed policymakers show that inflation is still a concern. That could make the Fed’s ultimate move at its September 16-17 meeting a close call. There will be another jobs report and ... (full story)