should the fed be wrong this last one sentence, then an almighty scream will occur with bond holders throttling the fomc household
anyway fwiw
FOMC divided in June over inflation, rate impact
PrintDisable live quotesRSSDigg itDel.icio.usBy Greg Robb Last Update: 2:00 PM ET Jul 20, 2006
WASHINGTON (MarketWatch) - Given intense debates over inflation and the impact of past rate hikes, the Federal Open Market Committee intended in its June 30 policy statement to signal markets that rate hikes at future meetings was no longer "foreordained," according to a summary of their closed-door deliberations released Thursday. The FOMC minutes reveal that there was "significant uncertainty" among members about the appropriate level of interest rates going forward. Even though they all agreed to hike rates to 5.25%, the Fed governors and bank presidents could not come to a consensus on whether the level of rates was now modestly restrictive or somewhat accommodative.One FOMC member called the decision to raise the target Fed funds rate in June "a close call." The minutes reveal a lengthy debate among FOMC members about inflation. Most, but not all, believed that inflation would edge lower.
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