The minutes reveal more closely the behind closed doors thinking between the U.S.’ top policymakers with the Fed under barrage from the White House.

Trump sent Fed Chair Powell a handwritten note demanding lower interest rates to reduce government borrowing costs. Experts argue dramatic rate cuts could compromise Fed independence and reignite inflation pressures.

U.S. business activity picked up in July, but companies asked higher prices for goods and services, supporting economists' views that inflation will accelerate in the second half of the year mainly because of tariffs on imports.

Fed staff told reporters that it would have been less expensive to just build a new building rather than restore the two historic properties.

Federal Reserve officials affirmed their intention to lower inflation back toward their 2% target at the risk of rising unemployment and slower growth. Fed minutes show inflation resolve, concern ...

Inflation has been cooling; by the Fed's targeted measure of the yearly gain in the Personal Consumption Expenditures price index, inflation was 2.1% in April, just a hair above the Fed's 2% target.

Prices rose faster in May than forecasters had anticipated, and consumers unexpectedly lost income and pulled back on spending.

In “waiting game” since January, the FOMC decided to leave rates in the 4.25% to 4.5% range AI Summary The Federal Reserve held benchmark rates steady in the range of 4.25% to 4.5% following ...

Concerns over higher inflation and tighter monetary policy have become the top concern for market participants, pushing aside the COVID-19 pandemic, the Federal Reserve said on Monday in its ...