Fed watching global risks on rate rise
Many Federal Reserve policymakers want to see more evidence that the US economy is strengthening before pulling the trigger on rate hikes, according to minutes of their latest meeting. Some participants listed the Greek standoff and the potential for a Chinese slowdown among the risks to the outlook.
Minutes from the meeting from June 16-17 struck a broadly positive tone about developments in the US economy, highlighting stronger consumer spending, corporate hiring, housing market activity and signs of wage growth. The stabilisation of oil prices and the dollar would reduce downward pressure on inflation, the Federal Open Market Committee noted.