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Reuters
Fed officials still leaning to 75-basis-point rate hike in July
TAMPA, Fla. (Reuters) -Federal Reserve officials signaled Friday they will likely stick with a 75-basis-point interest rate increase at their July 26-27 meeting, though a recent high inflation reading could still warrant larger increases than anticipated later in the year. Data released earlier this week showing inflation had accelerated to an annual rate of 9.1% in June raised the possibility the Fed might opt for a larger 1 percentage point rate hike at its next session. But comments from Fed officials on Friday, coupled with data showing economic activity holding up and the inflation outlook among consumers improving, undercut some of the urgency for a larger increase.
