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the facade of the Federal Reserve in Washington, April 3, 2012. Some members voting Fed expect you need to raise interest rates soon, although there is general agreement that also requires knowing more economic data before making that decision, the minutes of the meeting on monetary policy said July. REUTERS / Joshua Roberts / File Photo (reuters_tickers)
By Jason Lange and Lindsay Dunsmuir
WASHINGTON (Reuters) – the authorities of the Federal Reserve agreed that it is necessary to know more economic data before raising interest rates, although some see the need to soon tighten monetary policy, according to minutes of the meeting of the US central bank on 26 and 27 July.
the minutes, released Wednesday, showed that members of the Federal Open Market Committee (FOMC), the panel that sets monetary policy, were generally optimistic about the economic outlook and the country’s labor market.
“Some (…) members anticipate that economic conditions justify soon take another step towards removing the expansion of monetary policy,” he said central bank of the United States in the minutes released on Wednesday.
However, authorities assured that a slowdown in the future pace of hiring would be an issue that could threaten a rise in borrowing costs in the short term and FOMC members said they wanted to “leave their options open policy”.
the dollar strengthened after learning of the minutes, while shares and prices of Treasuries in the short term cut losses.
the future of federal funds showed little change in bets on when the Fed will increase the cost of credit, with investors still waiting for the next hike likely to occur in December.
“the minutes contained more concrete indications that still slowly building a consensus to raise rates,” said Brian Dolan, currency strategist chief Drivewealth market in New Jersey.
the Fed raised rates in December for the first time in nearly a decade, but since then it has remained unchanged amid volatile financial markets, a slowdown in global growth and a weak US inflation.
Seventeen officials the central bank participated in the July meeting, 10 of which have voting rights. The larger, several groups expressed concern that low interest rates could damage financial stability.
The minutes came a day after the president of the New York Fed, William Dudley, said it was “possible” to raise interest rates at the meeting on 20 and 21 September. The head of the Atlanta Fed, Dennis Lockhart, said a hike in the next meeting was at stake.
The Fed has scheduled meetings in early November and mid-December. Economists see the meeting last month of the year as the most likely time of increased federal funding as it will occur after the presidential elections in the United States, according to a Reuters poll.
Investors they focus now at the annual meeting of central bankers in Jackson Hole, next week, the Fed often used for telegraphing their policy plans.
(Reporting by Jason Lange and Lindsay Dunsmuir, published in Spanish by Manuel Farias)
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