Disinflation appeared to stall during the first half of the year while labor market conditions remained solid, according to the minutes of the Federal Open Market Committee’s July 29–30 meeting.
Solid labor market, stalling disinflation led to rate decision: minutes
August 21, 2025 / By ICBA
Disinflation appeared to stall during the first half of the year while labor market conditions remained solid, according to the minutes of the Federal Open Market Committee’s July 29–30 meeting.
Disinflation appeared to stall during the first half of the year while labor market conditions remained solid, according to the minutes of the Federal Open Market Committee’s July 29–30 meeting.
About the Rate Decision: With Federal Reserve staff's economic growth projections holding steady and its inflation projection slightly lower than the one prepared for the June meeting, the FOMC voted to maintain target interest rates at a range of 4.25% to 4.5%.
Dissenting Votes: Fed Governors Michelle Bowman and Christopher Waller voted against the action, saying they preferred to lower the target range for the federal funds rate by 25 basis points.
Outlook: The next FOMC meeting is scheduled for Sept. 16-17.
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