( ) -v-33- WASHINGTON (Correspondent Jeremy House) “into a recession.” Federal Reserve officials acknowledged at their most recent meeting in January that there had been “significant progress” in reducing inflation. Correspondent Jeremy House has more on the story. [CutID: <Cuts> FED-MINUTES-house-v-THUam.mp3 Time: 33s Title: FED-MINUTES-house-v-THUam Out-cue: std] ————————– VERBATIM: Despite the encouraging news, some of […]
Audio
Fed minutes: Officials worried that inflation progress could stall
( ) -v-33- WASHINGTON (Correspondent Jeremy House) “into a recession.”
Federal Reserve officials acknowledged at their most recent meeting in January that there had been “significant progress” in reducing inflation. Correspondent Jeremy House has more on the story.
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VERBATIM: Despite the encouraging news, some of the policymakers expressed concern that strong growth in spending and hiring could disrupt that progress. In minutes from the meeting, most Fed officials also said they were worried about moving too fast to cut their benchmark interest rate before it was clear that inflation was sustainably returning to their 2% target. Only “a couple” were worried that the Fed might keep rates too high for too long and cause the economy to slow more than necessary, or even slip into a recession…JH, Washington.