The decision-makers of the u.s. central bank is increasingly worried about delay, the rate of inflation.
Many policy makers are concerned by the slow pace of recovery of price increases may be due to long-term trends, not just short-term factors.
They urged that “the patience” to guide the Fed as it considers plans to increase the interest rate.
Many analysts expect the Federal Reserve to raise its interest rates once more this year.
But several members have stated that their willingness to take action will depend on incoming economic data. A small number have reported an increase should be postponed until it was clear that the evolution of the inflation were on the verge of hitting the Fed’s 2% target.
“All agreed that they should closely monitor and evaluate incoming data before making any further adjustment to the federal funds rate,” they said.
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The publication of the minutes of the Fed’s September meeting as a result of recent comments and speeches of political leaders, who have brought to light questions about the rate of inflation.
The interpretation of this new data is likely to be complicated by efforts to disentangle the temporary effects of the recent hurricanes, which wreaked havoc in some parts of the country, including Texas and Florida.
President of the federal Reserve, Janet Yellen, also gave a speech last month focusing on the Fed’s uncertainty about what is driving the evolution of inflation.
She had previously emphasized that the delay of the inflation was probably due to temporary factors, such as the decrease of prices for mobile phone plans.
But in her speech, she said other factors could include changes in long-term health-care prices, driven by the Affordable Care Act, as well as economic changes brought about by the internet, such as online shopping and greater price transparency.
The uncertainty strengthens the case for “gradual” adjustments, ” she said.